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.

November 2015 pdf Download Full Report PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area improved significantly through September, decreasing 0.5 percentage points to 3.1 percent compared with August. The Metro Denver unemployment rate was also 0.9 percentage points below the September 2014 level of 4 percent. All seven Metro Denver counties reported unemployment rates below 4 percent in September.

Residential building permits for the Metro Denver area increased in September compared with the prior year. Metro Denver reported a 19 percent increase in total permits issued between September 2014 and 2015, with 292 additional permits issued.

The Denver Metro Apartment Vacancy and Rent Survey for the third quarter of 2015 reported that the vacancy rate rose 0.5 percentage points over-the-quarter to 5 percent and the average rental rate rose 2.1 percent over-the-quarter to $1,292 per month.  

Economic Indicators November 2015 2015 YTD

Nonfarm Employment Growth

+2,100 Increase

Employment up 0.1% from Aug. to Sept.

+44,700 Increase

YTD employment up 3% through Sept.

% Companies Hiring (Denver Area)

19 % Decrease

Companies expecting to add workers decreased from 3Q 2015 to 4Q 2015

22 % Increase

YTD average up 1 percentage point compared with 2014

Unemployment Rate

3.1 % Decrease

Unemployment down 0.5 percentage points from Aug. to Sept.

4 % Decrease

Down from 2014 YTD average of 5.1%

Initial Unemployment Insurance Claims

-8.6 % Decrease

Claims decreased from Aug. to Sept.

-8 % Decrease

YTD average claims decreased through Sept. 2015

Total Retail Sales

-15.5 % Decrease

Metro sales decreased from March to April

3.1 % Increase

YTD sales up through April 2015

Consumer Confidence Index

103.4 Decrease

Index down 7.8% from Sept. to Oct.

110.3 Increase

YTD average up 26.8% through Oct. 2015

Hotel Occupancy

82.5 % Decrease

Decreased 2.8 percentage points from Aug. to Sept.

78.9 % Increase

YTD occupancy up 0.7 percentage points from last year

DIA Passengers

-2.4 % Decrease

Passengers decreased from July to Aug.

-0.7 % Decrease

YTD passengers decreased through Aug. 2015

Bloomberg Colorado Index

557.7 Increase

Index up 0.4% from Sept. to Oct.

-7.2 % Decrease

YTD return through Oct. 2015

Dow Jones / Industrial Average

17,663.5 Increase

Index up 8.5% from Sept. to Oct.

-1 % Decrease

YTD return through Oct. 2015

Home Sales (Closed)

4,949 Decrease

Sales down 5.8% from Aug. to Sept.

41,632 Increase

YTD sales up 3.2% through Sept. 2015

Median Home Price (Denver-Aurora MSA)

$362,900 Increase

Up 7.3% from 1Q 2015 to 2Q 2015

$350,500 Increase

YTD price 15.9% higher through 2Q 2015

Foreclosures

267 Decrease

Down 5.7% from Aug. to Sept.

2,738 Decrease

Down 33.4% YTD through Sept. 2015

Residential Building Permits (Total)

1,831 Increase

Permits increased 21.8% from Aug. to Sept.

13,704 Increase

YTD permits up 7.1% through Sept. 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)

10.3 % Decrease

Vacancy rate down 0.1 percentage points from 2Q 2015 to 3Q 2015

-0.8 percentage point Decrease

3Q 2015 vacancy rate down from 11.1% one year ago

Industrial Vacancy Rate (with Sublet)

3 % Decrease

Vacancy rate down 0.1 percentage points from 2Q 2015 to 3Q 2015

-0.9 percentage points Decrease

3Q 2015 vacancy rate down from 3.9% one year ago

Retail Space Vacancy Rate (with Sublet)

5.1 % Decrease

Vacancy rate down 0.1 percentage points from 2Q 2015 to 3Q 2015

-0.6 percentage points Decrease

3Q 2015 vacancy rate down from 5.7% one year ago

Economic Indicators November 2015 2015 YTD