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.

July 2019 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver increased 1.4 percent between May 2018 and 2019, adding 24,500 jobs over-the-year. Employment in Colorado rose 1.8 percent over-the-year.

The average hotel occupancy rate in Metro Denver rose 2.4 percentage points over-the-year, increasing to 77.6 percent in the month of May. The average hotel room rate increased 1.7 percent over the period, increasing by $2.45 per night to $145.60.

The average direct vacancy rate for commercial office real estate increased 0.1 percentage points over-the-quarter, while the rate decreased 1.1 percentage points over-the-year to 8.9 percent.

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

12,100 Increase

Employment up 0.7% from Apr to May

24,500 Increase

Employment up 1.4% from May 2018 to 2019

28,000 Increase

YTD employment up 1.7% through May

% Companies Hiring (Denver Area)

29 % Decrease

Companies hiring fell 6 percentage points from 2Q 2019 to 3Q 2019

29 % No change

Companies hiring rose had no change from 3Q 2018 to 3Q 2019

29 % Increase

YTD average up 1 percentage point compared with 2018

Unemployment Rate

2.4 % Decrease

Unemployment down 0.2 percentage points between Apr and May

-0.3 percentage points Decrease

Unemployment down from May 2018 to 2019

3.0 % Increase

Up 0.1 percentage point from 2018 YTD average

Initial Unemployment Insurance Claims

-3.6 % Decrease

Claims decreased from April to May

2.1 % Increase

Claims increased from May 2018 to 2019

4.2 % Increase

YTD average claims increased through May 2019

Total Retail Sales

-1.7 % Decrease

National sales decreased from Mar to Apr

5.6 % Increase

National sales increased from Apr 2018 to 2019

3.0 % Increase

YTD sales rose through Apr 2019

Consumer Confidence Index

133.6 Decrease

Index down 2.5% from May to Jun

16.1 % Increase

Index up from Jun 2018 to 2019

133.1 Increase

YTD average up 2.8% through Jun 2019

Hotel Occupancy

77.6 % Increase

Increased 2.6 percentage points from Apr to May

2.4 percentage points Increase

Occupancy increased from May 2018 to May 2019

69.9 % Increase

YTD occupancy up from last year

DIA Passengers

-2.4 % Decrease

Passengers down from Mar to Apr

4.4 % Increase

Passengers up from Apr 2018 to 2019

4.5 % Increase

YTD passengers increased through Apr 2019

Bloomberg Colorado Index

577.4 Increase

Index up 8.3% from May to Jun

4.5 % Increase

Index up from Jun 2018 to 2019

25.4 % Increase

YTD return up through Jun 2019

Dow Jones / Industrial Average

26,591.9 Increase

Index up 7.2% from May to Jun

9.6 % Increase

Index up from Jun 2018 to 2019

14.0 % Increase

YTD return up through Jun 2019

Home Sales (Closed)

5,743 Increase

Sales up 16.9% between Apr and May

7.4 % Increase

Sales up from May 2018 to 2019

21,518 Increase

YTD sales up 2.9% through May 2019

Median Home Price (Denver-Aurora MSA)

$446,600 Increase

Up 1.9% from 4Q 2018 to 1Q 2019

1.2 % Increase

Price up from 1Q 2018 to 1Q 2019

$446,600 Increase

YTD price 1.2% higher through 1Q 2019

Foreclosures

220 Decrease

Down 10.6% from Apr to May

6.8 % Increase

Up from May 2018 to 2019

1,197 Increase

Up 1% YTD through May 2019

Residential Building Permits (Total)

1,771 Increase

Permits increased 35.1% from Apr to May

15.1 % Increase

Permits up May 2018 to 2019

7,733 Decrease

YTD permits down 27.5% through May 2019

Apartment Vacancy Rate

5.4 % Decrease

Vacancy decreased 0.4 percentage points from 4Q 2018 to 1Q 2019

-0.7 percentage points Decrease

Vacancy decreased from 1Q 2018 to 1Q 2019

5.4 % Decrease

YTD average down 0.7 percentage points from last year

Office Vacancy Rate (with Sublet)

9.7 % No change

No change in vacancy rate from 1Q 2019 to 2Q 2019

-1.1 percentage points Decrease

Vacancy rate down from 10.8% one year ago

-1.1 percentage points Decrease

Vacancy rate down from 10.8% one year ago

Industrial Vacancy Rate (with Sublet)

4.8 % Increase

Vacancy rate increased from 1Q 2019 to 2Q 2019

+0.6 percentage points Increase

2Q 2019 vacancy up from 4.2% one year ago

+0.6 percentage points Increase

2Q 2019 vacancy up from 4.2% one year ago

Retail Space Vacancy Rate (with Sublet)

4.5 % Increase

Vacancy rate increased 0.1 percentage point from 1Q 2019 to 2Q 2019

-0.0 percentage points No change

2Q 2019 vacancy the same as one year ago

-0.0 percentage points No change

2Q 2019 vacancy the same as one year ago

Economic Indicators Current Month Year-Over-Year YTD