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.

December 2016 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3.5 percent between October 2015 and 2016, outpacing state and national growth while the unemployment rate remained at lows not posted since the dot-com boom in the early 2000s.

The consumer confidence index for the mountain region increased to 113.7 in November, increasing 12 percent over-the-month. However, the index is 7 percent lower year-to-date than in 2015.

Median home prices throughout the Metro Denver area decreased between the second and third quarters of 2016, but were up over the year. The Boulder MSA reported the seventh highest median price of 178 MSAs and the Denver MSA was the 16th highest.

Economic Indicators December 2016 Year-Over-Year 2016 YTD

Nonfarm Employment Growth

+6,800 Increase

Employment up 0.4% from Sept. to Oct.

+55,700 Increase

Employment up 3.5% from Oct. 2015 to 2016

+49,200 Increase

YTD employment up 3.1% through Oct.

% Companies Hiring (Denver Area)

28 % Increase

Companies expecting to add workers rose 3 percentage points from 3Q 2016 to 4Q 2016

28 % Increase

Companies expecting to add workers rose 9 percentage points from 4Q 2015 to 4Q 2016

25 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

2.9 % Increase

Unemployment was up 0.1 percentage points from Sept. to Oct.

-0.1 percentage points Decrease

Unemployment rate down from Oct. 2015 to 2016

3.2 % Decrease

Down from 2015 YTD average of 3.8%

Initial Unemployment Insurance Claims

+12.5 % Increase

Claims increased from Sept. to Oct.

-14.9 % Decrease

Claims decreased from Oct. 2015 to 2016

-4.7 % Decrease

YTD average claims decreased through Oct. 2016

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

113.7 Increase

Index up 12% from Oct. to Nov.

15.8 % Increase

Index up from Nov. 2015 to 2016

101.7 Decrease

YTD average down 6.9% through Nov. 2016

Hotel Occupancy

78.8 % Decrease

Decreased 5 percentage points from Sept. to Oct.

-0.2 percentage points Decrease

Occupancy decreased from Oct. 2015 to 2016

78 % Decrease

YTD occupancy down 0.9 percentage points from last year

DIA Passengers

-5.3 % Decrease

Passengers down from Aug. to Sept.

12.8 % Increase

Passengers up from Sept. 2015 to 2016

8.2 % Increase

YTD passengers increased through Sept. 2016

Bloomberg Colorado Index

522.4 Increase

Index up 5.9% from Oct. to Nov.

-5.4 % Decrease

Index down from Nov. 2015 to 2016

5.1 % Increase

YTD return through Nov. 2016

Dow Jones / Industrial Average

19,123.6 Increase

Index up 5.4% from Oct. to Nov.

7.9 % Increase

Index up from Nov. 2015 to 2016

9.7 % Increase

YTD return through Nov. 2016

Home Sales (Closed)

5,458 Decrease

Sales down 10.9% from Aug. to Sept.

4.4 % Increase

Sales up from Sept. 2015 to 2016

45,534 Decrease

YTD sales down 3.2% through Sept. 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

246 Increase

Up 3.8% from Sept. to Oct.

-7.5 % Decrease

Down from Oct. 2015 to 2016

2,661 Decrease

Down 10.2% YTD through Oct. 2016

Residential Building Permits (Total)

2,680 Increase

Permits increased 64.3% from Sept. to Oct.

140.6 % Increase

Permits up from Oct. 2015 to 2016

18,090 Increase

YTD permits up 22.6% through Oct. 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 % Increase

Vacancy rate up 0.3 percentage points from 2Q 2016 to 3Q 2016

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

-0.4 percentage points Decrease

3Q 2016 vacancy rate down from 10.4% one year ago

Industrial Vacancy Rate (with Sublet)

3.7 % Increase

Vacancy rate up 0.2 percentage points from 2Q 2016 to 3Q 2016

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

+0.8 percentage points Increase

3Q 2016 vacancy up from 2.9% one year ago

Retail Space Vacancy Rate (with Sublet)

4.8 % Decrease

Vacancy rate down 0.1 percentage point from 2Q 2016 to 3Q 2016

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

-0.3 percentage points Decrease

3Q 2016 vacancy rate down from 5.1% one year ago

Economic Indicators December 2016 Year-Over-Year 2016 YTD