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 2014 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout Metro Denver held steady in March at 6.3 percent for the third month in a row, a 0.6 percentage point decrease from the previous year. All seven Metro Denver counties reported over-the-year declines in the unemployment rate, marking the 31st straight month of declines.

Retail sales throughout Metro Denver reported improvements between January 2013 and 2014, showing continued strengthening in the local economy. Metro Denver reported a 3.5 percent increase in retail sales over-the-year, as total sales in January reached $7.3 billion.

Contrary to national levels, Metro Denver reported strong growth in residential building permits through the end of March. The year-to-date level of permits issued (4,543 permits) rose 63.8 percent during the first quarter of 2014 compared with the same period the prior year. Between March 2013 and 2014, single-family attached permits rose 355.2 percent and multi-family permits rose 48.8 percent. Employment increased 0.5% from February to March. 

Economic Indicators May 2014 2014 YTD

Nonfarm Employment Growth

+7,200 Increase

Employment increased 0.5% from Feb. to Mar.

+41,400 Increase

YTD employment up 2.9% through Mar.

% Companies Hiring (Denver Area)

20 % Increase

Companies expecting to add workers increased from 1Q 2014 to 2Q 2014

19 % Decrease

YTD average down 3 percentage points compared with 2013

Unemployment Rate

6.3 % No change

No change in the Metro rate from Feb to Mar.

6.3 % Decrease

Down from 2013 YTD avg of 7.2%

Initial Unemployment Insurance Claims

-13.5 % Decrease

Claims decreased from Feb. to Mar.

-10.8 % Decrease

YTD average claims decreased 10.8% through Mar. 2014

Total Retail Sales

-47 % Decrease

Metro sales decreaseed from Dec. to Jan.

3.5 % Increase

YTD sales up through Jan. 2014

Consumer Confidence Index

93.4 Decrease

Index down 6.6% from Mar. to Apr.

87.2 Increase

YTD average up 44% through Apr. 2014

Hotel Occupancy

76.0 % Increase

Increased 8.8 percentage points from Feb. to Mar.

70.0 % Increase

YTD occupancy up 14%

DIA Passengers

20.2 % Increase

Passengers increased from Feb. to Mar.

1.7 % Increase

YTD passengers increased through Mar. 2014

Bloomberg Colorado Index

598.1 Decrease

Index down 3% from Mar. to Apr.

-2.0 % Decrease

YTD Return through Apr. 2014

Dow Jones / Industrial Average

16,580.8 Increase

Index increased 0.7% from Mar. to Apr.

-0.0 % No change

YTD Return through Apr. 2014

Home Sales (Closed)

3,537 Increase

Sales up 22.4% from Feb. to Mar.

8,985 Decrease

YTD sales down 7.6% through Mar. 2014

Median Home Price (Denver-Aurora MSA)

$279,300 Decrease

Down 2.6% from 3Q to 4Q 2013

$280,600 Increase

YTD price 11.2% higher through 4Q 2013


532 Increase

Up 11.1% from Dec. to Jan.

532 Decrease

Down 41.9% YTD through Jan. 2014

Residential Building Permits (Total)

1,715 Decrease

Permits decreased 9.8% from Feb. to Mar.

4,543 Increase

YTD permits up 63.8% through Mar. 2014

Apartment Vacancy Rate

5.2 % Increase

Vacancy increased 0.8 percentage points from 3Q to 4Q 2013

4.6 % Decrease

YTD average down 0.1 percentage points through 4Q 2013

Office Vacancy Rate (with Sublet)

11.2 % Decrease

Vacancy rate down 0.2 percentage points from 4Q 2013 to 1Q 2014

-0.9 percentage points Decrease

1Q 2014 vacancy rate down from 12.1% one year ago

Industrial Vacancy Rate (with Sublet)

3.8 % Decrease

Vacancy rate down 0.4 percentage points from 4Q 2013 to 1Q 2014

-2 percentage points Decrease

1Q 2014 vacancy rate down from 5.8% one year ago

Retail Space Vacancy Rate (with Sublet)

6.0 % Decrease

Vacancy rate down 0.4 percentage points from 4Q 2013 to 1Q 2014

-0.7 percentage points Decrease

1Q 2014 vacancy rate down from 6.7% one year ago

Economic Indicators May 2014 2014 YTD