Monthly Economic Indicators

This monthly report provides a snapshot of metro area economic activity in labor and employment, the consumer sector, and residential and commercial real estate.

February 2016 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area decreased to 3.1 percent through December, a decrease of 0.1 percentage points compared with November. The Metro Denver unemployment rate was 0.8 percentage points below the December 2014 level of 3.9 percent

Existing home sales in Metro Denver increased between 2014 and 2015, rising 2.7 percent to 55,509 homes sold during 2015. The pace of home sales was stronger between 2014 and 2015 compared with the 2013 to 2014 period, when there was a 0.8 percent increase in home sales.

The Denver Metro Apartment Vacancy and Rent Survey for the fourth quarter of 2015 reported that apartment vacancy rate rose 1.8 percentage points to 6.8 percent from the third quarter level. The average monthly rental rate was unchanged between the third and fourth quarters of 2015.

Economic Indicators February 2016 2016 YTD

Nonfarm Employment Growth

-1,800 Decrease

Employment down 0.1% from Nov. to Dec.

+41,100 Increase

YTD employment up 2.7% through Dec.

% Companies Hiring (Denver Area)

23 % Increase

Companies expecting to add workers increased from 4Q 2015 to 1Q 2016

23 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

3.1 % Decrease

Unemployment down 0.1 percentage points from Nov. to Dec.

3.8 % Decrease

Down from 2014 YTD average of 4.8%

Initial Unemployment Insurance Claims

-27 % Decrease

Claims decreased from Nov. to Dec.

-5.9 % Decrease

YTD average claims decreased through Dec. 2015

Total Retail Sales

4.6 % Increase

Metro sales increased from April to May

2.7 % Increase

YTD sales up through May 2015

Consumer Confidence Index

114.7 Increase

Index up 2.8% from Dec. to Jan.

114.7 Increase

YTD average up 2.9% through Jan. 2016

Hotel Occupancy

55.5 % Decrease

Decreased 11.4 percentage points from Nov. to Dec.

75.9 % Increase

YTD occupancy up 0.1 percentage point from last year

DIA Passengers

-9.2 % Decrease

Passengers decreased from Oct. to Nov.

0.7 % Increase

YTD passengers increased through Nov. 2015

Bloomberg Colorado Index

463.1 Decrease

Index down 6.8% from Dec. to Jan.

-6.8 % Decrease

YTD return through Jan. 2016

Dow Jones / Industrial Average

16,466.3 Decrease

Index down 5.5% from Dec. to Jan.

-5.5 % Decrease

YTD return through Jan. 2016

Home Sales (Closed)

4,170 Increase

Sales up 14.7% from Nov. to Dec.

55,509 Increase

YTD sales up 2.7% through Dec. 2015

Median Home Price (Denver-Aurora MSA)

$353,000 Decrease

Down 2.7% from 2Q 2015 to 3Q 2015

$351,300 Increase

YTD price 14.5% higher through 3Q 2015

Foreclosures

332 Increase

Up 62.7% from Nov. to Dec.

3,498 Decrease

Down 34.3% YTD through Dec. 2015

Residential Building Permits (Total)

2,207 Increase

Permits increased 14.6% from Nov. to Dec.

18,885 Increase

YTD permits up 13.1% through Dec. 2015

Apartment Vacancy Rate

6.8 % Increase

Vacancy increased 1.8 percentage points from 3Q 2015 to 4Q 2015

5.3 % Increase

YTD average up 0.7 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2015 to 4Q 2015

-0.8 percentage points Decrease

4Q 2015 vacancy rate down from 10.8% one year ago

Industrial Vacancy Rate (with Sublet)

3.5 % Increase

Vacancy rate up 0.5 percentage points from 3Q 2015 to 4Q 2015

+0.2 percentage points Increase

4Q 2015 vacancy rate up from 3.3% one year ago

Retail Space Vacancy Rate (with Sublet)

5.1 % No change

Vacancy rate unchanged from 3Q 2015 to 4Q 2015

-0.3 percentage points Decrease

4Q 2015 vacancy rate down from 5.4% one year ago

Economic Indicators February 2016 2016 YTD