September 2022 MEI Snapshot
-7,600
Employment down 0.4% from June to July
3.1%
Denver International Airport passengers up from May to June
1,966
Permits decreased 25.7% from June to July
Full Indicator Reports
September 2022 MEI
Monthly Key Insights
Unemployment Rate
The unemployment rate was unchanged from June to July, holding steady at 3.2 percent.
U.S. Consumer Confidence Index
The U.S. Consumer Confidence Index increased in August after three months of declines.
Home Prices
Median home prices rose 12.5 percent over the year in 2Q 2022.
Nonfarm Employment Growth
Current Month
Employment down 0.4% from June to July
-7,600
Year-Over-Year
Employment up 3.5% from July 2021 to 2022
60,400
YTD
YTD employment up 4.8% through July
81,200
Manpower Net Employment (West Region)
Current Month
Net employment unchanged from 2Q 2022 to 3Q 2022
42%
Year-Over-Year
Net employment increased 15 percentage points from 3Q21 to 3Q22
42%
YTD
YTD average up 24 percentage points compared with 2021
44%
Unemployment Rate
Current Month
Unemployment was unchanged from June to July
3.2%
Year-Over-Year
Unemployment down from July 2021 to 2022
-2.4 percentage points
YTD
Down 2.7 percentage points from 2021 YTD average
3.4%
Initial Unemployment Insurance Claims
Current Month
Claims increased from June to July
18.2%
Year-Over-Year
Claims decreased from July 2021 to 2022
-50.7%
YTD
YTD average claims decreased through July 2022
-88.4%
Total Retail Sales
Current Month
National sales decreased from June to July
-1.3%
Year-Over-Year
National sales increased from July 2021 to 2022
9.0%
YTD
YTD sales increased through July 2022
10.5%
Mountain Region Consumer Confidence Index
Current Month
Index was up 12.8 percent from July to August
102.5
Year-Over-Year
Index down from August 2021 to 2022
-7.7%
YTD
YTD average down 5.8% through August 2022
106.8
Hotel Occupancy
Current
Decreased 3.5 percentage points from June to July
78.4%
Year-Over-Year
Occupancy increased from July 2021 to 2022
1.6% percentage points
YTD
YTD occupancy up from last year
67.6%
Denver International Airport Passengers
Current Month
Passengers up from May to June
3.1%
Year-Over-Year
Passengers up from June 2021 to 2022
1.3%
YTD
YTD passengers increased through June 2022
24.3%
Bloomberg Colorado Index
Current Month
Index down 3.2% from July to August
699.7
Year-Over-Year
Index down from August 2021 to 2022
-26.3%
YTD
YTD return down through August 2022
-20.9%
Dow Jones Industrial Average
Current Month
Index down 4.1% from July to August
31,510.4
Year-Over-Year
Index down from August 2021 to 2022
-10.9%
YTD
YTD return down through August 2022
-13.3%
Home Sales
Home Sales (closed)
Sales down 24.5% from June to July
4,546
Year-Over-Year
Sales down from July 2021 to 2022
-31.0%
YTD
YTD sales down 10.9% from last year
33,622
Median Home Price (Denver-Aurora MSA)
Current Month
Up 5.1% from 1Q 2022 to 2Q 2022
$695,800
Year-Over-Year
Price up from 2Q 2021 to 2Q 2022
12.5%
YTD
YTD price 15.8% higher through 2Q 2022
$679,000
Foreclosures
Current Month
Down 14.2% from July to August
206
Year-Over-Year
Up from August 2021 to 2022
255.2%
YTD
Up 613.1% YTD through August 2022
1,798
Residential Building Permits (Total)
Current Month
Permits decreased 25.7% from June to July
1,966
Year-Over-Year
Permits down from July 2021 to July 2022
-5.5%
YTD
YTD permits up 4.2% through July 2022
16,018
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 increased 0.1 percentage points from 1Q 2022 to 2Q 2022
14.0%
Year-Over-Year
2Q 2022 vacancy up from 13.9% one year ago
+0.1 percentage points
YTD
2Q 2022 vacancy up from 13.9% one year ago
+0.1 percentage points
Industrial Vacancy Rate (with Sublet)
Current Month
Vacancy rate decreased 0.5 percentage points from 1Q 2022 to 2Q 2022
4.7%
Year-Over-Year
2Q 2022 vacancy down from 6.6% one year ago
-1.9 percentage points
YTD
2Q 2022 vacancy down from 6.6% one year ago
-1.9 percentage points
Retail Space Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.1 percentage points from 1Q 2022 to 2Q 2022
4.7%
Year-Over-Year
2Q 2022 vacancy down from 5.3% one year ago
-0.6 percentage points
YTD
2Q 2022 vacancy down from 5.3% one year ago
-0.6 percentage points