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.

June 2016 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3 percent between April 2015 and 2016, or an additional 46,900 jobs during the period. The employment growth consisted of a 3.2 percent increase in the Denver-Aurora-Lakewood MSA, or an additional 43,800 jobs, and a 1.7 percent increase in the Boulder MSA, representing 3,100 jobs.

A National Association of Realtors report revealed that median home prices throughout the Metro Denver area continued to increase between the first quarters of 2015 and 2016 but at a slower pace than previously seen. The Boulder MSA reported an 8.5 percent increase ($479,700) in home prices over-the-year, while the Denver-Aurora MSA a 9.1 percent increase over-the-year.

Existing home sales in Metro Denver increased slightly between March 2015 and 2016, rising 0.9 percent to 4,695 homes sold during the month. Home sales were also 46.8 percent higher between February and March 2016.

Economic Indicators June 2016 2016 YTD

Nonfarm Employment Growth

+15,900 Increase

Employment up 1% from March to April

+43,300 Increase

YTD employment up 2.8% through April

% Companies Hiring (Denver Area)

23 % No change

Companies expecting to add workers was unchanged from 1Q 2016 to 2Q 2016

23 % Increase

YTD average up 1 percentage point compared with 2015

Unemployment Rate

3.3 % Increase

Unemployment up 0.1 percentage points from March to April

3.1 % Decrease

Down from 2015 YTD average of 4.3%

Initial Unemployment Insurance Claims

1.7 % Increase

Claims increased from March to April

2.5 % Increase

YTD average claims increased through April 2016

Total Retail Sales

-8.8 % Increase

Metro sales decreased from Oct. to Nov.

1.4 % Increase

YTD sales up through Nov. 2015

Consumer Confidence Index

119.1 Decrease

Index up 30.9% from April to May

99.2 Increase

YTD average down 7% through May 2016

Hotel Occupancy

74.2 % Increase

YTD average down 7% through May 2016

68.8 % Decrease

YTD occupancy down 2.7 percent from last year

DIA Passengers

15.3 % Increase

Passengers up from Feb. to March

6.8 % Increase

YTD passengers increased through March 2016

Bloomberg Colorado Index

510.5 Increase

Index up 1.8% from April to May

2.7 % Increase

YTD return through May 2016

Dow Jones / Industrial Average

17,787.2 Increase

Index up 0.1% from April to May

2.1 % Increase

YTD return through May 2016

Home Sales (Closed)

4,695 Increase

Sales up 46.8% from Feb. to March

11,211 Increase

YTD sales up 5.7% through March 2016

Median Home Price (Denver-Aurora MSA)

$369,000 Increase

Up 4.4% from 4Q 2015 to 1Q 2016

$369,000 Increase

YTD price 9.1% higher through 1Q 2016

Foreclosures

269 Decrease

Down 19% from March to April

1,210 Increase

Up 3.2% YTD through April 2016

Residential Building Permits (Total)

1,722 Increase

Permits increased 3.9% from March to April

6,500 Increase

YTD permits up 10.9% through April 2016

Apartment Vacancy Rate

6.1 % Decrease

Vacancy decreased 0.7 percentage points from 4Q 2015 to 1Q 2016

6.1 % Increase

YTD average up 1.2 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 4Q 2015 to 1Q 2016

-0.7 percentage points Decrease

1Q 2016 vacancy rate down from 10.7% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.1 percentage points from 4Q 2015 to 1Q 2016

+0.0 percentage points No change

1Q 2016 vacancy unchanged from one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Decrease

Vacancy rate down 0.2 percentage points from 4Q 2015 to 1Q 2016

-0.3 percentage points Decrease

1Q 2016 vacancy rate down from 5.2% one year ago

Economic Indicators June 2016 2016 YTD