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.

February 2015 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver rose 3.2 percent between December 2013 and 2014, or an additional 48,100 jobs during the period. The employment growth consisted of a 3.3 percent increase in the Denver-Aurora MSA, or an additional 43,600 jobs, and a 2.5 percent increase in the Boulder MSA, representing 4,500 jobs. 

The Consumer Confidence Index for the U.S. rose significantly in January, reporting a level of 102.9 from the revised December level of 93.1, an increase of 10.5 percent over-the-month. Colorado is included in the Mountain Region Index and the  index rose to 115.1 in January from the December revised level of 99.7, rising 15.4 percent over-the-month and 52.5 percent over-the-year. 

The Denver Metro Apartment Vacancy and Rent Survey for the fourth quarter of 2014 reported the first quarter of rising vacancy rates after three consecutive quarters of falling vacancy rates. The Metro Denver apartment vacancy rate rose 0.8 percentage points to 4.7 percent from the third quarter level. However, the vacancy rate was 0.5 percentage points below the prior year.

Economic Indicators February 2015 2015 YTD

Nonfarm Employment Growth

+3,400 Increase

Employment up 0.2% from Nov. to Dec.

+41,500 Increase

YTD employment up 2.8% through Dec.

% Companies Hiring (Denver Area)

20 % Decrease

Companies expecting to add workers decreased from 4Q 2014 to 1Q 2015

20 % Increase

YTD average up 2 percentage points compared with 2014

Unemployment Rate

3.8 % No change

Unemployment unchanged Nov. to Dec.

4.9 % Decrease

Down from 2013 YTD average of 6.5%

Initial Unemployment Insurance Claims

-11.4 % Decrease

Claims decreased from Nov. to Dec.

-12.9 % Decrease

YTD average claims decreased through Dec. 2014

Total Retail Sales

6.2 % Increase

Metro sales increased from Apr. to May

3.4 % Increase

YTD sales up through May 2014

Consumer Confidence Index

115.1 Increase

Index up 15.4% from Dec. to Jan.

115.1 Increase

YTD average up 52.5% through Jan. 2015

Hotel Occupancy

58.3 % Decrease

Decreased 6.7 percentage points from Nov. to Dec.

75.8 % Increase

YTD occupancy up 5 percentage points from last year

DIA Passengers

-12.7 % Decrease

Passengers decreased from Oct. to Nov.

2.2 % Increase

YTD passengers increased through Nov. 2014

Bloomberg Colorado Index

594.4 Decrease

Index down 1.1% from Dec. to Jan.

-1.1 % Decrease

YTD return through Jan. 2015

Dow Jones / Industrial Average

17,165 No change

Index down 3.7% from Dec. to Jan.

-3.7 % Increase

YTD return through Jan. 2015

Home Sales (Closed)

3,869 Increase

Sales up 2.9% from Nov. to Dec.

53,719 Increase

YTD sales up 0.1% through Dec. 2014

Median Home Price (Denver-Aurora MSA)

$315,500 Decrease

Down 0.3% from 2Q 2014 to 3Q 2014

$306,700 Increase

YTD price 10.3% higher through 3Q 2014

Foreclosures

443 Increase

Up 25.1% from Nov. to Dec.

5,342 Decrease

Down 29% YTD through Dec. 2014

Residential Building Permits (Total)

2,516 Increase

Permits increased 49.8% from Nov. to Dec.

18,866 Increase

YTD permits up 15.7% through Dec. 2014

Apartment Vacancy Rate

4.7 % Increase

Vacancy increased 0.8 percentage points from 3Q 2014 to 4Q 2014

4.6 % No change

YTD average unchanged from 4Q 2013

Office Vacancy Rate (with Sublet)

10.6 % Decrease

Vacancy rate down 0.4 percentage points from 3Q 2014 to 4Q 2014

-1 percentage point Decrease

4Q 2014 vacancy rate down from 11.6% one year ago

Industrial Vacancy Rate (with Sublet)

3.3 % Decrease

Vacancy rate down 0.3 percentage points from 3Q 2014 to 4Q 2014

-0.9 percentage points Decrease

4Q 2014 vacancy rate down from 4.2% one year ago

Retail Space Vacancy Rate (with Sublet)

5.7 % Decrease

Vacancy rate down 0.1 percentage point from 3Q 2014 to 4Q 2014

-0.6 percentage points Decrease

4Q 2014 vacancy rate down from 6.3% one year ago

Economic Indicators February 2015 2015 YTD