January 2023 MEI Snapshot
60,300
Employment up 3.5% from November 2021 to 2022
6.2 percentage points
Occupancy increased from November 2021 to 2022
10.3%
Passengers up from November 2021 to 2022
Full Indicator Reports
January 2023 MEI
Monthly Key Insights
Consumer Confidence
Consumer Confidence improved from November to December as inflation showed signs of moderating.
Stock Market Index
All four stock market indices declined in 2022, with all four posting their worst year since 2008.
Commercial Real Estate
9.51 million square feet of commercial real estate space was completed in 2022, with 12.63 million square feet under construction at the beginning of 2023.
Nonfarm Employment Growth
Current Month
Employment was down 0.1% from October to November
-2,500
Year-Over-Year
Employment up 3.5% from November 2021 to 2022
60,300
YTD
YTD employment up 4.4% through November
74,900
Manpower Net Employment (West Region)
Current Month
Net employment fell from 3Q 2022 to 4Q 2022
38%
Year-Over-Year
Net employment decreased 11 percentage points from 4Q21 to 4Q22
38%
YTD
YTD average up 15 percentage points compared with 2021
42%
Unemployment Rate
Current Month
Unemployment fell 0.2 percentage points from October to November
3.2%
Year-Over-Year
Unemployment down from November 2021 to 2022
-0.7 percentage points
YTD
Down 2.1 percentage points from 2021 YTD average
3.4%
Initial Unemployment Insurance Claims
Current Month
Claims increased from October to November
30.8%
Year-Over-Year
Claims increased from November 2021 to 2022
35.2%
YTD
YTD average claims decreased through November 2022
-82.5%
Total Retail Sales
Current Month
National sales increased from September to October
3.6%
Year-Over-Year
National sales increased from October 2021 to 2022
7.9%
YTD
YTD sales increased through October 2022
9.9%
Mountain Region Consumer Confidence Index
Current Month
Index up 9.2 percent from November to December
111.5
Year-Over-Year
Index down from December 2021 to 2022
-6.2%
YTD
YTD average down 8% through December 2022
105.9
Hotel Occupancy
Current
Decreased 14.4 percentage points from October to November
59.4%
Year-Over-Year
Occupancy increased from November 2021 to 2022
6.2 percentage points
YTD
YTD occupancy up from last year
69.4%
Denver International Airport Passengers
Current Month
Passengers down from October to November
-10.8%
Year-Over-Year
Passengers up from November 2021 to 2022
10.3%
YTD
YTD passengers increased through November 2022
19.0%
Bloomberg Colorado Index
Current Month
Index down 9.4 percent from November to December
644.6
Year-Over-Year
Index down from December 2021 to 2022
-27.1%
YTD
YTD return down through December 2022
-27.1%
Dow Jones Industrial Average
Current Month
Index down 4.1 percent from November to December
33,147.3
Year-Over-Year
Index down from December 2021 to 2022
-8.8%
YTD
YTD return down through December 2022
-8.8%
Home Sales
Home Sales (closed)
Sales down 10.8% from October to November
2,954
Year-Over-Year
Sales down from November 2021 to 2022
-49.7%
YTD
YTD sales down 22% from last year
48,502
Median Home Price (Denver-Aurora MSA)
Current Month
Down 4.3% from 2Q 2022 to 3Q 2022
$666,000
Year-Over-Year
Prices are up from 3Q 2021 to 3Q 2022
8.3%
YTD
YTD price 13.2% higher through 3Q 2022
$674,700
Foreclosures
Current Month
Down 4.8% from November to December
180
Year-Over-Year
Up from December 2021 to 2022
260.0%
YTD
Up 392.8% YTD through December 2022
2,523
Residential Building Permits (Total)
Current Month
Permits decreased 1.9% from October to November
1,460
Year-Over-Year
Permits down from November 2021 to November 2022
-40.3%
YTD
YTD permits down 13.1% through November 2022
23,202
Apartment Vacancy Rate
Current Month
Vacancy increased from 1Q 2022 to 2Q 2022
4.8%
Year-Over-Year
Vacancy increased from 2Q 2021 to 2Q 2022
+1.1 percentage points
YTD
YTD average unchanged from last year
4.6%
Office Vacancy Rate (with Sublet)
Current Month
Vacancy rate was unchanged from 3Q 2022 to 4Q 2022
14.2%
Year-Over-Year
4Q 2022 vacancy up from 13.9% one year ago
+0.3 percentage points
YTD
4Q 2022 vacancy up from 13.9% one year ago
+0.3 percentage points
Industrial Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.2 percentage points from 3Q 2022 to 4Q 2022
5.7%
Year-Over-Year
4Q 2022 vacancy up from 5.2% one year ago
+0.5 percentage points
YTD
4Q 2022 vacancy up from 5.2% one year ago
+0.5 percentage points
Retail Space Vacancy Rate (with Sublet)
Current Month
Vacancy rate decreased 0.3 percentage points from 3Q 2022 to 4Q 2022
4.2%
Year-Over-Year
4Q 2022 vacancy down from 4.6% one year ago
-0.4 percentage points
YTD
4Q 2022 vacancy down from 4.6% one year ago
-0.4 percentage points