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.

September 2016 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area decreased between June and July, falling 0.4 percentage points to a 3.4 percent unemployment rate. The Metro Denver unemployment rate was also 0.2 percentage points below the July 2015 level of 3.6 percent.

Existing home sales in Metro Denver increased between May and June, rising 17.8 percent to 6,458 homes sold during the month. Unsold homes on the market were 9.7 percent higher in June 2016 than June 2015.

The National Association of Realtors reported that the median home price in the Boulder MSA increased 18.5 percent between the second quarters of 2015 and 2016 to $549,600, while the Denver-Aurora MSA recorded an 8.7 percent increase during the period to $394,400. 

Economic Indicators September 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+1,800 Increase

Employment up 0.1% from June to July

+57,500 Increase

Employment up 3.6% from July 2015 to 2016

+47,600 Increase

YTD employment up 3.1% through July

% Companies Hiring (Denver Area)

25 % Increase

Companies expecting to add workers rose 2 percentage points from 2Q 2016 to 3Q 2016

25 % Decrease

Companies expecting to add workers fell 1 percentage point from 3Q 2015 to 3Q 2016

24 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.4 % Decrease

Unemployment was down 0.4 percentage points from June to July

-0.2 percentage points Decrease

Unemployment rate down from July 2015 to 2016

3.3 % Decrease

Down from 2015 YTD average of 4.0%

Initial Unemployment Insurance Claims

1.4 % Increase

Claims increased from June to July

-9.1 % Decrease

Claims decreased from July 2015 to 2016

-2.7 % Decrease

YTD average claims decreased through July 2016

Total Retail Sales

-1.1 % Decrease

Metro sales decreased from Jan. to Feb.

1.3 % Increase

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

110.7 Increase

Index up 13.0% from July to Aug.

-11 % Decrease

Index down from Aug. 2015 to 2016

100.2 Decrease

YTD average down 9.7% through Aug. 2016

Hotel Occupancy

87.7 % Decrease

Increased 11 percentage points from May to June

-1.4 percentage points Decrease

Occupancy increased from June 2015 to 2016

75.8 % Decrease

YTD occupancy down 2.3 percent from last year

DIA Passengers

6.3 % Increase

Passengers up from May to June

8.4 % Increase

Passengers up from June 2015 to 2016

6.8 % Increase

YTD passengers increased through June 2016

Bloomberg Colorado Index

511.9 Increase

Index up 1.4% from July to Aug.

-10.6 % Decrease

Index down from Aug. 2015 to 2016

3 % Increase

YTD return through Aug. 2016

Dow Jones / Industrial Average

18,400.9 Decrease

Index down 0.2% from July to Aug.

11.3 % Increase

Index up from Aug. 2015 to 2016

5.6 % Increase

YTD return through Aug. 2016

Home Sales (Closed)

6,458 Increase

Sales up 17.8% from May to June

-9 % Decrease

Sales down from June 2015 to 2016

28,066 Decrease

YTD sales down 2% through June 2016

Median Home Price (Denver-Aurora MSA)

$394,400 Increase

Up 6.9% from 1Q 2016 to 2Q 2016

8.7 % Increase

Price up from 2Q 2015 to 2Q 2016

$381,700 Increase

YTD price 8.9% higher through 2Q 2016

Foreclosures

209 Decrease

Down 16.7% from June to July

-38.2 % Decrease

Down from July 2015 to 2016

1,905 Decrease

Down 11.6% YTD through July 2016

Residential Building Permits (Total)

1,485 Increase

Permits increased 0.3% from June to July

-0.2 % Decrease

Permits down from June 2015 to 2016

12,443 Increase

YTD permits up 20.5% through July 2016

Apartment Vacancy Rate

5.4 % Decrease

Vacancy decreased 0.7 percentage points from 1Q 2016 to 2Q 2016

0.9 percentage points Increase

Vacancy increased from 2Q 2015 to 2Q 2016

5.8 % Increase

YTD average up 1.1 percentage points from last year

Office Vacancy Rate (with Sublet)

9.6 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

-0.7 percentage points Decrease

2Q 2016 vacancy rate down from 10.3% one year ago

Industrial Vacancy Rate (with Sublet)

3.9 % Increase

Vacancy rate up 0.5 percentage points from 1Q 2016 to 2Q 2016

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

+0.8 percentage points Increase

2Q 2016 vacancy up from 3.1% one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2016 to 2Q 2016

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

-0.4 percentage points Decrease

2Q 2016 vacancy rate down from 5.3% one year ago

Economic Indicators September 2016 Year-Over-Year 2016 YTD