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.

May 2015 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area fell through March, decreasing 0.3 percentage points to 4.2 percent compared with February. The Metro Denver unemployment rate was also 1.6 percentage points below the March 2014 level of 5.8 percent.

Metro Denver retail sales continued to increase through August. Metro Denver retail sales increased 7.2 percent over-the-year, with total retail sales reaching just over $9 billion in August, and 2.1 percent over-the-month.

Existing home sales in Metro Denver increased between February and March, rising 40.3 percent to 4,177 total homes sold during the month of March. The March home sales were 9.7 percent higher compared with the previous year.

Economic Indicators May 2015 2015 YTD

Nonfarm Employment Growth

+2,400 Increase

Employment up 0.2% from Feb. to March

+52,900 Increase

YTD employment up 3.6% through March

% Companies Hiring (Denver Area)

23 % Increase

Companies expecting to add workers increased from 1Q 2015 to 2Q 2015

22 % Increase

YTD average up 3 percentage points compared with 2014

Unemployment Rate

4.2 % Decrease

Unemployment down 0.3 percentage points from Feb. to March

4.4 % Decrease

Down from 2014 YTD average of 5.9%

Initial Unemployment Insurance Claims

-17.4 % Decrease

Claims decreased from Feb. to March

-12.6 % Decrease

YTD average claims decreased through March 2015

Total Retail Sales

2.1 % Increase

Metro sales increased from July to Aug.

4.7 % Increase

YTD sales up through Aug. 2014

Consumer Confidence Index

101.6 Decrease

Index down 0.8% from March to April

107.5 Increase

YTD average up 24.1% through April 2015

Hotel Occupancy

71.4 % Decrease

Decreased 1.2 percentage points from Feb. to March

69.9 % Decrease

YTD occupancy down 0.1 percentage points from last year

DIA Passengers

-7.3 % Decrease

Passengers decreased from Jan. to Feb.

-2 % Decrease

YTD passengers decreased through Feb. 2015

Bloomberg Colorado Index

602.6 Decrease

Index down 0.2% from March to April

0.3 % Increase

YTD return through April 2015

Dow Jones / Industrial Average

17,840.5 Increase

Index up 0.4% from March to April

0 % No change

YTD return through April 2015

Home Sales (Closed)

4,177 Increase

Sales up 40.3% from Feb. to March

9,679 Increase

YTD sales up 3.4% through March 2015

Median Home Price (Denver-Aurora MSA)

$314,800 Decrease

Down 0.2% from 3Q 2014 to 4Q 2014

$310,200 Increase

YTD price 10.5% higher through 4Q 2014

Foreclosures

368 Increase

Up 51.4% from Feb. to March

833 Decrease

Down 48.3% YTD through March 2015

Residential Building Permits (Total)

1,946 Increase

Permits increased 65.6% from Feb. to March

3.965 Decrease

YTD permits down 11.2% through March 2015

Apartment Vacancy Rate

4.9 % Increase

Vacancy increased 0.2 percentage points from 4Q 2014 to 1Q 2015

4.9 % Decrease

YTD average down from 1Q 2014

Office Vacancy Rate (with Sublet)

10.6 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2014 to 1Q 2015

-0.9 percentage point Decrease

1Q 2015 vacancy rate down from 11.5% one year ago

Industrial Vacancy Rate (with Sublet)

3.1 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2014 to 1Q 2015

-0.7 percentage points Decrease

1Q 2015 vacancy rate down from 3.8% one year ago

Retail Space Vacancy Rate (with Sublet)

5.5 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2014 to 1Q 2015

-0.4 percentage points Decrease

1Q 2015 vacancy rate down from 5.9% one year ago

Economic Indicators May 2015 2015 YTD