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.

November 2020 PDF Download Snapshot

Monthly Economic Indicators

Continued claims are down from a peak of nearly 250,000 at the beginning of May to just under 131,000 for the week ending October 10. About 62.5 percent of the continuing claimants are residents of Metro Denver.

Retail sales in Metro Denver rose 0.3 percent between August 2019 and August 2020. Four of the seven counties in Metro Denver reported an over-the-year increase in retail sales.

Home sales in Metro Denver totaled 6,357 in September, up 28.2 percent from the same time last year. Unsold homes on the market were 42.9 percent lower in September 2020 compared with the previous year.

Economic Indicators November 2020 Year-Over-Year YTD

Nonfarm Employment Growth

4,300 Increase

Employment up 0.3% from August to September

-74,000 Decrease

Employment down 4.2% from September 2019 to 2020

-62,000 Decrease

YTD employment down 3.6% through September

% Companies Hiring (Denver Area)

18 % Decrease

Companies hiring fell 3 percentage points from 3Q 2020 to 4Q 2020

18 % Decrease

Companies hiring fell 2 percentage points from 4Q 2019 to 4Q 2020

23 % Decrease

YTD average down 4 percentage points compared with 2019

Unemployment Rate

6.4 % Decrease

Unemployment down 0.5 percentage points from August to September

4.1 percentage points Increase

Unemployment up from September 2019 to 2020

7.2 % Increase

Up 4.4 percentage points from 2019 YTD average

Initial Unemployment Insurance Claims

-22.2 % Decrease

Claims decreased from August to September

284.2 % Increase

Claims increased from September 2019 to 2020

697.1 % Increase

YTD average claims increased through September 2020

Total Retail Sales

-1.0 % Decrease

National sales decreased from July to August

0.3 % Increase

National sales increased from August 2019 to 2020

-1.8 % Decrease

YTD sales decreased through August 2020

Consumer Confidence Index

108.4 Increase

Index up 9.6 percent from September to October

-21.4 % Decrease

Index down from October 2019 to 2020

105.5 Decrease

YTD average down 22% through October 2020

Hotel Occupancy

47.0 % Increase

Increased 1.4 percentage points from August to September

-34.5 percentage points Decrease

Occupancy decreased from September 2019 to September 2020

43.2 % Decrease

YTD occupancy down from last year

DIA Passengers

15.2 % Increase

Passengers up from July to August

-53.7 % Decrease

Passengers down from August 2019 to 2020

-53.2 % Decrease

YTD passengers decreased through August 2020

Bloomberg Colorado Index

644.1 Decrease

Index down 0.1% from September to October

13.3 % Increase

Index up from October 2019 to 2020

6.1 % Increase

YTD return up through October 2020

Dow Jones / Industrial Average

26,501.6 Decrease

Index down 4.6% from September to October

-2.0 % Decrease

Index down from October 2019 to 2020

-7.1 % Decrease

YTD return down through October 2020

Home Sales (Closed)

6,357 Increase

Sales up 12.5% from August to September

28.2 % Increase

Sales up from September 2019 to 2020

41,838 Decrease

YTD sales down 4.2% through September 2020

Median Home Price (Denver-Aurora MSA)

$478,400 Increase

Up 1% from 1Q 2020 to 2Q 2020

1.5 % Increase

Price up from 2Q 2019 to 2Q 2020

$476,100 Increase

YTD price 3.7% higher through 2Q 2020

Foreclosures

26 Increase

Up 13% from August to September

-86.9 % Decrease

Down from September 2019 to 2020

880 Decrease

Down 56.9% YTD through September 2020

Residential Building Permits (Total)

2,119 Decrease

Permits decreased 0.6% from August to September

84.3 % Increase

Permits up September 2019 to September 2020

13,976 Decrease

YTD permits down 0.9% through September 2020

Apartment Vacancy Rate

4.9 % Decrease

Vacancy decreased 0.2 percentage points from 2Q 2020 to 3Q 2020

0.2 percentage points Increase

Vacancy increased from 3Q 2019 to 3Q 2020

5.3 % Increase

YTD average up 0.3 percentage points from last year

Office Vacancy Rate (with Sublet)

11.5 % Increase

Vacancy rate up 1.1 percentage points from 2Q 2020 to 3Q 2020

+1.8 percentage points Increase

3Q 2020 vacancy up from 9.7% one year ago

+1.8 percentage points Increase

3Q 2020 vacancy up from 9.7% one year ago

Industrial Vacancy Rate (with Sublet)

6.1 % Increase

Vacancy rate increased 0.5 percentage points from 2Q 2020 to 3Q 2020

+0.8 percentage points Increase

3Q 2020 vacancy up from 5.3% one year ago

+0.8 percentage points Increase

3Q 2020 vacancy up from 5.3% one year ago

Retail Space Vacancy Rate (with Sublet)

5.3 % Increase

Vacancy rate increased 0.5 percentage points from 2Q 2020 to 3Q 2020

+1.1 percentage points Increase

3Q 2020 vacancy up from 4.2% one year ago

+1.1 percentage points Increase

3Q 2020 vacancy up from 4.2% one year ago

Economic Indicators November 2020 Year-Over-Year YTD