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.

January 2017 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3.2 percent between November 2015 and 2016, or an additional 50,400 jobs during the period. Metro Denver’s unemployment rate in November decreased to 2.6 percent, the lowest rate since December 2000.

Residential building permits for the Metro Denver area increased in November compared with the prior year. Metro Denver reported a 22.2 percent increase in total permits issued between November 2015 and 2016, with 428 additional permits issued.

The Commercial Real Estate market in Metro Denver reported robust activity in 2016. More than 7.4 million square feet of space was completed in 2016, an increase of 45.4 percent over the prior year. Over 9.8 million square feet was under construction, rising 34.3 percent between 2015 and 2016.

 

Economic Indicators January 2017 Year-Over-Year 2017 YTD

Nonfarm Employment Growth

-3,900 Decrease

Employment down 0.2% from Oct. to Nov.

+50,400 Increase

Employment up 3.2% from Nov. 2015 to 2016

+49,500 Increase

YTD employment up 3.1% through Nov.

% Companies Hiring (Denver Area)

25 % Decrease

Companies expecting to add workers fell 3 percentage points from 4Q 2016 to 1Q 2017

25 % Increase

Companies expecting to add workers rose 2 percentage points from 1Q 2016 to 1Q 2017

25 % Increase

YTD average up 3 percentage points compared with 2016

Unemployment Rate

2.6 % Decrease

Unemployment was down 0.3 percentage points from Oct. to Nov.

-0.5 percentage points Decrease

Unemployment rate down from Nov. 2015 to 2016

3.1 % Decrease

Down from 2015 YTD average of 3.7%

Initial Unemployment Insurance Claims

+29.5 % Increase

Claims increased from Oct. to Nov.

-26.6 % Decrease

Claims decreased from Nov. 2015 to 2016

-7.7 % Decrease

YTD average claims decreased through Nov. 2016

Total Retail Sales

-1.1 % Increase

Metro sales decreased from Jan. to Feb.

1.3 % Decrease

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

116.1 Decrease

Index down 1% from Nov. to Dec.

4 % Increase

Index up from Nov. 2015 to 2016

103.2 Decrease

YTD average down 5.7% through Dec. 2016

Hotel Occupancy

64.6 % Decrease

Decreased 14.2 percentage points from Oct. to Nov.

-2.3 percentage points Decrease

Occupancy decreased from Nov. 2015 to 2016

76.8 % Decrease

YTD occupancy down 1 percentage points from last year

DIA Passengers

2.2 % Increase

Passengers up from Sept. to Oct.

8.3 % Increase

Passengers up from Oct. 2015 to 2016

8.2 % Increase

YTD passengers increased through Oct. 2016

Bloomberg Colorado Index

517 Decrease

Index down 1% from Nov. to Dec.

4 % Increase

Index up from Dec. 2015 to 2016

4 % Increase

YTD return through Dec. 2016

Dow Jones / Industrial Average

19,762.6 Increase

Index up 3.3% from Nov. to Dec.

13.4 % Increase

Index up from Dec. 2015 to 2016

13.4 % Increase

YTD return through Dec. 2016

Home Sales (Closed)

4,766 Decrease

Sales down 6.8% from Oct. to Nov.

19.3 % Increase

Sales up from Nov. 2015 to 2016

55,415 Decrease

YTD sales down 1.4% through Nov. 2016

Median Home Price (Denver-Aurora MSA)

$386,800 Decrease

Down 1.9% from 2Q 2016 to 3Q 2016

9.6 % Increase

Price up from 3Q 2015 to 3Q 2016

$383,400 Increase

YTD price 9.1% higher through 3Q 2016

Foreclosures

251 Increase

Up 1.6% from Oct. to Nov.

23 % Increase

Up from Nov. 2015 to 2016

2,913 Decrease

Down 8.0% YTD through Nov. 2016

Residential Building Permits (Total)

2,354 Decrease

Permits decreased 31.6% from Oct. to Nov.

22.2 % Increase

Permits up from Nov. 2015 to 2016

21,204 Increase

YTD permits up 27.1% through Nov. 2016

Apartment Vacancy Rate

5.1 % Decrease

Vacancy decreased 0.3 percentage points from 2Q 2016 to 3Q 2016

0.1 percentage points Increase

Vacancy increased from 3Q 2015 to 3Q 2016

5.5 % Increase

YTD average up 0.7 percentage points from last year

Office Vacancy Rate (with Sublet)

10.2 % Increase

Vacancy rate up 0.1 percentage points from 3Q 2016 to 4Q 2016

0 percentage points No change

Vacancy rate unchanged from 4Q 2015 to 4Q 2016

0 percentage points No change

Vacancy rate unchanged from 4Q 2015 to 4Q 2016

Industrial Vacancy Rate (with Sublet)

4.1 % Increase

Vacancy rate up 0.5 percentage points from 3Q 2016 to 4Q 2016

+0.8 percentage points Increase

4Q 2016 vacancy up from 3.3% one year ago

+0.8 percentage points Increase

4Q 2016 vacancy up from 3.3% one year ago

Retail Space Vacancy Rate (with Sublet)

4.8 % Decrease

Vacancy rate down 0.1 percentage point from 3Q 2016 to 4Q 2016

-0.4 percentage points Decrease

4Q 2016 vacancy rate down from 5.2% one year ago

-0.4 percentage points Decrease

4Q 2016 vacancy rate down from 5.2% one year ago

Economic Indicators January 2017 Year-Over-Year 2017 YTD