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 2016 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

The Manpower Employment Outlook Survey expects first quarter of 2016 hiring in the Denver-Aurora MSA to rise compared with the previous quarter. The percentage of companies hiring increased 4 percentage points between the fourth quarter of 2015 and the first quarter of 2016, with 23 percent of companies expanding their employment levels.

Retail sales in Metro Denver increased 0.9 percent between May 2014 and 2015. Retail sales for May 2015 totaled over $8.6 billion, an absolute increase of $73.8 million over the 2014 total of $8.5 billion.

Residential building permits for the Metro Denver area increased in November compared with the prior year. Metro Denver reported a 174.3 percent increase in total permits issued between November 2014 and 2015, with 1,056 additional permits issued.

Economic Indicators January 2016 2016 YTD

Nonfarm Employment Growth

+2,700 Increase

Employment up 0.2% from Oct. to Nov.

+42,200 Increase

YTD employment up 2.8% through Nov.

% Companies Hiring (Denver Area)

23 % Increase

Companies expecting to add workers increased from 4Q 2015 to 1Q 2016

23 % Increase

YTD average up 3 percentage points compared with 2015

Unemployment Rate

3.2 % Increase

Unemployment up 0.1 percentage points from Oct. to Nov.

3.8 % Decrease

Down from 2014 YTD average of 4.8%

Initial Unemployment Insurance Claims

50.1 % Increase

Claims increased from Oct. to Nov.

-5.2 % Decrease

YTD average claims decreased through Nov. 2015

Total Retail Sales

4.6 % Increase

Metro sales increased from April to May

2.7 % Increase

YTD sales up through May 2015

Consumer Confidence Index

112 Increase

Index up 14.1% from Nov. to Dec.

109.4 Increase

YTD average up 22.6% through Dec. 2015

Hotel Occupancy

66.9 % Decrease

Decreased 12.1 percentage points from Oct. to Nov.

77.8 % Increase

YTD occupancy up 0.5 percentage points from last year

DIA Passengers

6.5 % Increase

Passengers increased from Sept. to Oct.

0.0 % No change

YTD passengers unchanged through Oct. 2015

Bloomberg Colorado Index

497 Decrease

Index down 10% from Nov. to Dec.

-17.3 % Decrease

YTD return through Dec. 2015

Dow Jones / Industrial Average

17,425 Decrease

Index down 1.7% from Nov. to Dec.

-2.3 % Decrease

YTD return through Dec. 2015

Home Sales (Closed)

4,593 Decrease

Sales down 8.6% from Sept. to Oct.

46,366 Increase

YTD sales up 2.9% through Oct. 2015

Median Home Price (Denver-Aurora MSA)

$353,000 Decrease

Down 2.7% from 2Q 2015 to 3Q 2015

$351,300 Increase

YTD price 14.5% higher through 3Q 2015

Foreclosures

201 Decrease

Down 25.3% from Oct. to Nov.

3,208 Decrease

Down 34.5% YTD through Nov. 2015

Residential Building Permits (Total)

1,662 Increase

Permits increased 49.2% from Oct. to Nov.

16,456 Increase

YTD permits up 7.4% through Nov. 2015

Apartment Vacancy Rate

5 % Increase

Vacancy increased 0.5 percentage points from 2Q 2015 to 3Q 2015

4.8 % Increase

YTD average up 0.2 percentage points from last year

Office Vacancy Rate (with Sublet)

10 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2015 to 4Q 2015

-0.8 percentage point Decrease

4Q 2015 vacancy rate down from 10.8% one year ago

Industrial Vacancy Rate (with Sublet)

3.5 % Increase

Vacancy rate up 0.5 percentage points from 3Q 2015 to 4Q 2015

0.2 percentage points Increase

4Q 2015 vacancy rate up from 3.3% one year ago

Retail Space Vacancy Rate (with Sublet)

5.1 % No change

Vacancy rate unchanged from 3Q 2015 to 4Q 2015

-0.3 percentage points Decrease

4Q 2015 vacancy rate down from 5.4% one year ago

Economic Indicators January 2016 2016 YTD