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 2020 PDF Download Snapshot

Monthly Economic Indicators

Unemployment in Metro Denver rose 1.5 percentage points over-the-year to 4.5 percent in March 2020. 

U.S. GDP declined 4.8 percent in the first quarter of 2020, down 6.9 percentage points from the previous quarter and down 7.9 percentage points from the same time last year. 

National retail sales activity fell 6.7 percent over-the-year in March, with five of the 13 supersectors reporting increases during the period. 

Economic Indicators Current Month Year-Over-Year YTD

Nonfarm Employment Growth

1,200 Increase

Employment up 0.1% from February to March

41,300 Increase

Employment up 2.4% from March 2019 to 2020

42,500 Increase

YTD employment up 2.5% through March

% Companies Hiring (Denver Area)

27 % Increase

Companies hiring rose 1 percentage point from 1Q 2020 to 2Q 2020

27 % Decrease

Companies hiring fell 8 percentage points from 2Q 2019 to 2Q 2020

27 % Decrease

YTD average down 2 percentage points compared with 2019

Unemployment Rate

4.5 % Increase

Unemployment up 1.8 percentage points between February and March

1.6 percentage points Increase

Unemployment up from March 2019 to 2020

3.3 % Increase

Up 0.2 percentage points from 2019 YTD average

Initial Unemployment Insurance Claims

1568.4 % Increase

Claims increased from February to March

2079.5 % Increase

Claims increased from March 2019 to 2020

487.6 % Increase

YTD average claims increased through March 2020

Total Retail Sales

0.4 % Increase

National sales increased from February to March

-6.7 % Decrease

National sales decreased from March 2019 to 2020

1.7 % Increase

YTD sales rose through March 2020

Consumer Confidence Index

85.2 Decrease

Index down 32.8 percent from March to April

-39.4 % Decrease

Index down from April 2019 to 2020

124.1 Increase

YTD average down 6% through April 2020

Hotel Occupancy

37.5 % Decrease

Decreased 27.9 percentage points from February to March

-33.4 percentage points Decrease

Occupancy decreased from March 2019 to March 2020

54.9 % Decrease

YTD occupancy down from last year

DIA Passengers

-5.6 % Decrease

Passengers down from January to February

7.0 % Increase

Passengers up from February 2019 to 2020

6.4 % Increase

YTD passengers increased through February 2020

Bloomberg Colorado Index

524.1 Decrease

Index up 21% from March to April

-5.8 % Decrease

Index down from April 2019 to 2020

-13.7 % Decrease

YTD return down through April 2020

Dow Jones / Industrial Average

24,345.7 Increase

Index up 11.1% from March to April

-8.5 % Decrease

Index down from April 2019 to 2020

-14.7 % Decrease

YTD return down through April 2020

Home Sales (Closed)

4,413 Increase

Sales up 32% between February and March

0.5 % Increase

Sales up from March 2019 to 2020

11,048 Increase

YTD sales up 70.7% through Mar. 2020

Median Home Price (Denver-Aurora MSA)

$458,000 Decrease

Down 1.7% from 3Q 2019 to 4Q 2019

4.5 % Increase

Price up from 4Q 2018 to 4Q 2019

$462,100 Increase

YTD price 2.7% higher through 4Q 2019

Foreclosures

251 Decrease

Down 11.9% from January to February

0.4 % Increase

Up from February 2019 to 2020

536 Increase

Up 4.3% YTD through February 2020

Residential Building Permits (Total)

1,188 Decrease

Permits decreased 20.5% from Feb. to Mar.

-24.2 % Decrease

Permits down Mar. 2019 to Mar. 2020

3,916 Decrease

YTD permits down 15.8% through Mar. 2020

Apartment Vacancy Rate

5.9 % Increase

Vacancy increased 0.6 percentage points from 4Q 2019 to 1Q 2020

0.5 percentage points Increase

Vacancy increased from 1Q 2019 to 1Q 2020

5.9 % Increase

YTD average up 0.5 percentage points from last year

Office Vacancy Rate (with Sublet)

10.0 % Increase

Vacancy rate up 0.2 percentage points from 4Q 2019 to 1Q 2020

+0.1 percentage points Increase

1Q 2020 vacancy up from 9.9% one year ago

+0.1 percentage points Increase

1Q 2020 vacancy up from 9.9% one year ago

Industrial Vacancy Rate (with Sublet)

5.4 % Decrease

Vacancy rate decreased 0.2 percentage points from 4Q 2019 to 1Q 2020

+0.4 percentage points Increase

1Q 2020 vacancy up from 5% one year ago

+0.4 percentage points Increase

1Q 2020 vacancy up from 5% one year ago

Retail Space Vacancy Rate (with Sublet)

4.7 % Increase

Vacancy rate increased 0.1 percentage points from 4Q 2019 to 1Q 2020

+0.5 percentage points Increase

1Q 2020 vacancy up from 4.2% one year ago

+0.5 percentage points Increase

1Q 2020 vacancy up from 4.2% one year ago

Economic Indicators Current Month Year-Over-Year YTD