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.

October 2014 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the seven counties in the Metro Denver area recorded significant improvements between August 2013 and 2014. The Metro Denver unemployment rate fell 0.4 percentage points to 4.7 percent from the July level of 5.1 percent and declined 1.6 percentage points over-the-year.

Colorado is included in the Mountain Region Index and the area reported an increase in consumer confidence. The index rose to 90.5 in September from the August revised level of 88.1, increasing 2.7 percent over-the-month. The index was also 24 percent higher in September 2014 compared with a year prior.

Housing foreclosures throughout the Metro Denver area declined in five of the seven counties between August 2013 and 2014. Metro Denver recorded a 47.3 percent decrease in foreclosures in August compared with the previous year and was 22.7 percent lower than the previous month.

Economic Indicators October 2014 2014 YTD

Nonfarm Employment Growth

+1,500 Increase

Employment was up 0.1% from July to Aug.

+40,500 Increase

YTD employment up 2.8% through Aug.

% Companies Hiring (Denver Area)

21 % Decrease

Companies expecting to add workers decreased from 3Q 2014 to 4Q 2014

21 % No change

YTD average unchanged compared with 2013

Unemployment Rate

4.7 % Decrease

Unemployment decreased 0.4 percentage points July to August

5.5 % Decrease

Down from 2013 YTD average of 6.8%

Initial Unemployment Insurance Claims

-5.1 % Decrease

Claims decreased from July to Aug.

-12.2 % Decrease

YTD average claims decreased through Aug. 2014

Total Retail Sales

-17.3 % Decrease

Metro sales decreased from Mar. to Apr.

3.9 % Increase

YTD sales up through Apr. 2014

Consumer Confidence Index

90.5 Increase

Index up 2.7% from Aug. to Sep.

87.9 Increase

YTD average up 18.8% through Sep. 2014

Hotel Occupancy

85.3 % Decrease

Decreased 3.9 percentage points from July to Aug.

77.7 % Increase

YTD occupancy up 5.7 percentage points from last year

DIA Passengers

-2.6 % Decrease

Passengers decreased from July to Aug.

2.1 % Increase

YTD passengers increased through July 2014YTD passengers increased through Aug. 2014

Bloomberg Colorado Index

622.1 Decrease

Index down 5.2% from Aug. to Sep.

+1.9 % Increase

YTD Return through Aug. 2014YTD return through Sep. 2014

Dow Jones / Industrial Average

17,042.9 Decrease

Index increased 3.2% from July to Aug.Index decreased 0.3% from Aug. to Sep.

2.8 % Increase

YTD Return through Aug. 2014YTD return through Sep. 2014

Home Sales (Closed)

5,028 Decrease

Sales down 10.4% from July to Aug.

35,900 Decrease

YTD sales up 6.5% through July 2014YTD sales down 3.8% through Aug. 2014

Median Home Price (Denver-Aurora MSA)

$316,300 Increase

Up 9.7% from 1Q 2014 to 2Q 2014

$302,400 Increase

YTD price 10.4% higher through 2Q 2014YTD price 10.4% higher through 2Q 2014

Foreclosures

327 Decrease

Down 22.7% from July to Aug.

3,771 Decrease

Down 40.7% YTD through July 2014Down 33.6% YTD through Aug. 2014

Residential Building Permits (Total)

1,237 Decrease

Permits decreased 30% from July to Aug.

11,239 Increase

YTD permits up 4.5% through Aug. 2014

Apartment Vacancy Rate

4.7 % Decrease

Vacancy decreased 0.4 percentage points from 1Q 2014 to 2Q 2014

4.9 % Increase

YTD average up 0.5 percentage points through 2Q 2014

Office Vacancy Rate (with Sublet)

11.0 % Decrease

Vacancy rate down 0.3 percentage points from 2Q 2014 to 3Q 2014

-0.8 percentage points Decrease

2Q 2014 vacancy rate down from 12% one year ago3Q 2014 vacancy rate down from 11.8% one year ago

Industrial Vacancy Rate (with Sublet)

3.9 % Increase

Vacancy rate up 0.1 percentage points from 2Q 2014 to 3Q 2014

-0.8 percentage points Decrease

3Q 2014 vacancy rate down from 4.7% one year ago

Retail Space Vacancy Rate (with Sublet)

5.8 % Decrease

Vacancy rate down 0.1 percentage point from 2Q 2014 to 3Q 2014

-0.6 percentage points Decrease

3Q 2014 vacancy rate down from 6.4% one year ago

Economic Indicators October 2014 2014 YTD