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.

August 2017 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

The number of initial unemployment insurance claims in June in Metro Denver was the lowest monthly count based on data going back to 2004.

Residential building permits increased 92.5 percent over-the-month and 80.8 percent over-the-year, reflecting large increases in multi-family construction activity.

Denver International Airport recorded nearly 5.3 million passengers in May, a new record for the month of May.

Economic Indicators August 2017 Year-Over-Year 2017 YTD

Nonfarm Employment Growth

17,100 Increase

Employment up 1% from May to June

40,200 Increase

Employment up 2.5% from June 2016 to 2017

35,500 Increase

YTD employment up 2.2% through June

% Companies Hiring (Denver Area)

30 % Increase

Companies expecting to add workers rose 3 percentage points from 2Q 2017 to 3Q 2017

30 % Increase

Companies expecting to add workers rose 5 percentage points from 3Q 2016 to 3Q 2017

27 % Increase

YTD average up 3 percentage points compared with 2016

Unemployment Rate

2.5 % Increase

Unemployment rose 0.2 percentage points between May and June

-1.0 percentage points Decrease

Unemployment rate down from June 2016 to 2017

2.6 % Decrease

Down from 2016 YTD average of 3.4%

Initial Unemployment Insurance Claims

-20.3 % Decrease

Claims decreased from May to June

-13.3 % Decrease

Claims decreased from June 2016 to 2017

-12.5 % Decrease

YTD average claims decreased through June 2017

Total Retail Sales

-1.1 % Decrease

Metro sales decreased from Jan. to Feb.

1.3 % Increase

Metro sales up from Feb. 2015 to 2016

-2.8 % Decrease

YTD sales down through Feb. 2016

Consumer Confidence Index

126.6 Decrease

Index down 2.7% from June to July

29.2 % Increase

Index up from July 2016 to 2017

128.4 Increase

YTD average up 30.8% through June 2017

Hotel Occupancy

89 % Increase

Increased 10.9 percentage points from Apr. to May

0.2 percentage points Increase

Occupancy increased from May 2016 to 2017

74.1 % Increase

YTD occupancy up from last year

DIA Passengers

9.5 % Increase

Passengers down from Mar. to Apr.

7.5 % Increase

Passengers up from Apr. 2016 to 2017

7.1 % Increase

YTD passengers increased through Apr. 2017

Bloomberg Colorado Index

527 Decrease

Index down 4.1% from to May to June

4.4 % Increase

Index up from June 2016 to 2017

1.9 % Increase

YTD return through June 2017

Dow Jones / Industrial Average

21,891.1 Increase

Index up 2.5% from June to July

18.8 % Increase

Index up from July 2016 to 2017

10.8 % Increase

YTD return through July 2017

Home Sales (Closed)

6,325 Increase

Sales up 5.3% from May to June

-1.8 % Decrease

Sales down from June 2016 to 2017

28,563 Increase

YTD sales up 2.1% through June 2017

Median Home Price (Denver-Aurora MSA)

$396,100 Increase

Up 3.8% from 4Q 2016 to 1Q 2017

7.3 % Increase

Price up from 1Q 2016 to 1Q 2017

$396,100 Increase

YTD price 7.3% higher through 1Q 2017

Foreclosures

256 Decrease

Down 0.8% from May to June

1.6 % Increase

Up from June 2016 to 2017

1,511 Decrease

Down 12% YTD through June 2017

Residential Building Permits (Total)

2,647 Increase

Permits increased 92.5% from May to June

80.8 % Increase

Permits up from June 2016 to 2017

13,286 Increase

YTD permits up 26% through June 2017

Apartment Vacancy Rate

5 % Decrease

Vacancy decreased 0.7 percentage points from 1Q 2017 to 2Q 2017

-0.4 percentage points Decrease

Vacancy decreased from 2Q 2016 to 2Q 2017

5.4 % Decrease

YTD average down 0.4 percentage points from last year

Office Vacancy Rate (with Sublet)

10.9 % Increase

Vacancy rate up 0.2 percentage points from 1Q 2017 to 2Q 2017

+1.1 percentage points Increase

Vacancy rate up from 9.8% one year ago

+1.1 percentage points Increase

Vacancy rate up from 2Q 2016 to 2Q 2017

Industrial Vacancy Rate (with Sublet)

4.3 % No change

Vacancy rate unchanged from 1Q 2017 to 2Q 2017

+0.7 percentage points Increase

2Q 2017 vacancy up from 3.6% one year ago

+0.7 percentage points Increase

2Q 2017 vacancy up from 3.6% one year ago

Retail Space Vacancy Rate (with Sublet)

4.9 % Increase

Vacancy rate up 0.1 percentage points from 1Q 2017 to 2Q 2017

+0.1 percentage points Increase

2Q 2017 vacancy rate up from 4.8% one year ago

+0.1 percentage points Increase

2Q 2017 vacancy rate up from 4.8% one year ago

Economic Indicators August 2017 Year-Over-Year 2017 YTD