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 2014 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the Metro Denver area recorded the lowest level since November of 2007. In September, the Metro Denver unemployment rate fell to 3.9 percent, a 0.8 percentage point decline from the August level and a 2.2 percentage point decline from September 2013.

Existing home sales in Metro Denver declined between August and September, falling 8.9 percent to 4,737 total homes sold during the month of September. The September home sales were 4.2 percent higher in 2014 compared with the previous year.

The Denver Metro Apartment Vacancy and Rent Survey for the third quarter of 2014 reported the third consecutive quarter of decreasing vacancy rates. The Metro Denver apartment vacancy rate fell 0.8 percentage points to 3.9 percent from the second quarter level, the lowest vacancy rate since the third quarter of 2000. Declines in five of the six submarkets contributed to the over-the-quarter decline.

Economic Indicators November 2014 2014 YTD

Nonfarm Employment Growth

+8,800 Increase

Employment was up 0.1% from July to Aug.Employment up 0.6% from Aug. to Sep.

+41,000 Increase

YTD employment up 2.8% through Aug.YTD employment up 2.8% through Sep.

% Companies Hiring (Denver Area)

21 % Decrease

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

21 % No change

YTD average unchanged compared with 2013YTD average unchanged compared with 2013

Unemployment Rate

3.9 % Decrease

Unemployment decreased 0.4 percentage points July to AugustUnemployment decreased 0.8 percentage points Aug. to Sep.

5.3 % Decrease

Down from 2013 YTD average of 6.7%

Initial Unemployment Insurance Claims

-9.2 % Decrease

Claims decreased from Aug. to Sep.

-13.8 % Decrease

YTD average claims decreased through Aug. 2014YTD average claims decreased through Sep. 2014

Total Retail Sales

-17.3 % Decrease

Metro sales decreased from Mar. to Apr.

3.9 % Increase

YTD sales up through Apr. 2014YTD sales up through Apr. 2014

Consumer Confidence Index

77.9 Decrease

Index down 17.8% from Sep. to Oct.

87.4 Increase

YTD average up 18.3% through Oct. 2014

Hotel Occupancy

82.1 % Decrease

Decreased 3.2 percentage points from Aug. to Sep.

78.2 % Increase

YTD occupancy up 1.1 percentage points from last year

DIA Passengers

-2.6 % Decrease

Passengers decreased from July to Aug.Passengers decreased from July to Aug.

2.1 % Increase

YTD passengers increased through Aug. 2014

Bloomberg Colorado Index

608.67 Decrease

Index down 5.2% from Aug. to Sep.Index down 2.2% from Sep. to Oct.

-0.3 % Decrease

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

Dow Jones / Industrial Average

17,390.5 Increase

Index increased 2% from Sep. to Oct.

4.9 % Increase

YTD return through Oct. 2014

Home Sales (Closed)

4,737 Decrease

Sales down 8.9% from Aug. to Sep.

40,920 Decrease

YTD sales down 2.3% through Sep. 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 2014

Foreclosures

342 Increase

Up 4.6% from Aug. to Sep.

4,113 Decrease

Down 33.9% YTD through Sep. 2014

Residential Building Permits (Total)

1,600 Increase

Permits increased 33% from Aug. to Sep.

12,805 Increase

YTD permits up 6.6% through Sep. 2014

Apartment Vacancy Rate

3.9 % Decrease

Vacancy decreased 0.8 percentage points from 2Q 2014 to 3Q 2014

4.6 % Increase

YTD average up 0.2 percentage points through 3Q 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

3Q 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 November 2014 2014 YTD