The comprehensive Monthly Economic Indicator report is emailed monthly to EDC Investors. If you'd like to access the most recent full report, please email us at hanna.scovill@metrodenver.org.

May 2023 MEI Snapshot
2.6%
The unemployment rate in Metro Denver fell 0.5 percentage points from February to March
-74.2%
Initial unemployment claims in the first quarter of 2023 fell compared to the same quarter in 2022
5.7%
Inflation in the Metro Denver region fell 0.7 percentage points from February to March
Full Indicator Reports
Nonfarm Employment Growth
Current Month
Employment was down 0.2% from November to December
-3,200
Year-Over-Year
Employment down 0.5% from December 2022 to 2023
-9,300
YTD
YTD employment up 0.5% through December
9,400
Unemployment Rate
Current Month
Unemployment rose 0.1 percentage points from November to December
3.3%
Year-Over-Year
Unemployment up from December 2022 to 2023
0.8 percentage points
YTD
Unemployment rate up 0.2% from 2022 YTD average
3.1%
Initial Unemployment Insurance Claims
Current Month
Claims decreased from August to September
-4.9%
Year-Over-Year
Claims increased from September 2022 to 2023
37.7%
YTD
YTD average claims increased through September 2023
27.9%
Total Retail Sales
Current Month
National sales increased from November to December
8.1%
Year-Over-Year
National sales increased from December 2022 to 2023
3.7%
YTD
YTD sales increased through December 2023
3.2%
Mountain Region Consumer Confidence Index
Current Month
Index down 2.7$ from January to February
118.8
Year-Over-Year
Index up from February 2023 to 2024
12.4%
YTD
YTD average up 12.3% through February 2024
120.5
Hotel Occupancy
Current
Decreased 10 percentage points from November to December
49.0%
Year-Over-Year
Occupancy decreased from December 2022 to 2023
-3.1 percentage points
YTD
YTD occupancy up from last year
69.5%
Denver International Airport Passengers
Current Month
Passengers up from November to December
2.3%
Year-Over-Year
Passengers up from December 2022 to 2023
15.2%
YTD
YTD passengers increased through December2023
12.3%
Bloomberg Colorado Index
Current Month
Index up 9.1 percent from January to February
909.8
Year-Over-Year
Index up from February 2023 to 2024
31.9%
YTD
YTD return up through February 2024
11.3%
Dow Jones Industrial Average
Current Month
Index up 2.2% from January to February
38,996.4
Year-Over-Year
Index up from February 2023 to 2024
19.5%
YTD
YTD return up through February 2024
3.4%
Home Sales
Home Sales (closed)
Sales down 25.1% from December to January
2,051
Year-Over-Year
Sales down from January 2023 to 2024
-6.3%
YTD
YTD sales down 6.3% from last year
2,051
Median Home Price (Denver-Aurora MSA)
Current Month
Down 3.1% from 3Q 2023 to 4Q 2023
$652,300
Year-Over-Year
Prices are up from 4Q 2022 to 4Q 2023
1.9%
YTD
YTD price 1.4% lower through 4Q 2023
$661,000
Foreclosures
Current Month
Down 7.9% from January to February
197
Year-Over-Year
Down from February 2023 to 2024
-2.0%
YTD
Down 0.7% YTD through February 2024
411
Residential Building Permits (Total)
Current Month
Permits decreased 59.2% from December to January
1,201
Year-Over-Year
Permits down January 2023 to 2024
-41.4%
YTD
YTD permits down 41.4% through January 2024
1,201
Apartment Vacancy Rate
Current Month
Vacancy increased from 3Q 2023 to 4Q 2023
5.8%
Year-Over-Year
Vacancy increased from 4Q 2022 to 4Q 2023
+0.6 percentage points
YTD
YTD average up 0.7 percentage points from last year
5.6%
Office Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 0.1 percent from 3Q 2023 to 4Q 2023
15.7%
Year-Over-Year
Q4 2023 vacancy up from 14.2% one year ago
+1.4 percentage points
YTD
Q4 2023 vacancy up from 14.2% one year ago
+1.4 percentage points
Industrial Vacancy Rate (with Sublet)
Current Month
Vacancy rate increased 1.1 percentage points from Q4 2023 to Q4 2023
7.7%
Year-Over-Year
4Q 2023 vacancy up from 5.7% one year ago
+2.0 percentage points
YTD
Q4 2023 vacancy up from 5.5% one year ago
+2.0 percentage points
Retail Space Vacancy Rate (with Sublet)
Current Month
Vacancy rate was unchanged points from Q3 2023 to Q4 2023
4.1%
Year-Over-Year
Q3 2023 vacancy down from 4.0% one year ago
0.1 percentage points
YTD
Q4 2023 vacancy down from 4.0% one year ago
0.1 percentage points