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.

August 2014 PDF Download Snapshot

Monthly Economic Indicators

The unemployment rate throughout the seven counties in the Metro Denver area reported significant improvements between June 2013 and 2014. The Metro Denver unemployment rate fell 1.8 percentage points over-the-year to 5.1 percent and was 0.1 percentage point lower than the May level. 

Metro Denver retail sales increased through March 2014, reporting a strong recovery from slow retail sales growth in the beginning of the first quarter. Metro Denver retail sales increased 5.6 percent over-the-year, with total retail sales reaching $9.7 billion in March. Each of the seven Metro Denver counties reported over-the-year increases as well as over-the-month growth.

The Denver Metro Apartment Vacancy and Rent Survey for the second quarter of 2014 reported the second consecutive quarter of decreasing vacancy rates. The Metro Denver apartment vacancy rate fell 0.4 percentage points from the first quarter level, as declines in three of the six submarkets contributed to the over-the-quarter decline. The second quarter average rental rate in Metro Denver ($1,117) was 4.1 percent higher than the previous quarter’s level. This rate was also 9.3 percent higher than the second quarter of 2013, marking the 17th consecutive quarter of over-the-year gains.

Economic Indicators August 2014 2014 YTD

Nonfarm Employment Growth

+13,000 Increase

Employment increased 0.9% from May to June

+41,200 Increase

YTD employment up 2.8% through June

% Companies Hiring (Denver Area)

26 % Increase

Companies expecting to add workers increased from 2Q 2014 to 3Q 2014

21 % Decrease

YTD average down 1 percentage point compared with 2013

Unemployment Rate

5.1 % Decrease

Unemployment decreased 0.1 percentage points May to June

5.7 % Decrease

Down from 2013 YTD average of 6.9Down from 2013 YTD average of 6.9%

Initial Unemployment Insurance Claims

-12.9 % Decrease

Claims decreased from May to June

-10.9 % Decrease

YTD average claims decreased 10.9% through June 2014

Total Retail Sales

34.7 % Decrease

Metro sales increased from Feb. to Mar.

3.6 % Increase

YTD sales up through Mar. 2014

Consumer Confidence Index

86.7 Increase

Index up 5.1% from June to July

86.9 Increase

YTD average up 20.3% through July 2014

Hotel Occupancy

86.4 % Increase

Increased 11 percentage points from May to June

74.4 % Increase

YTD occupancy up 9.4%

DIA Passengers

9.6 % Increase

Passengers increased from Apr. to May

2.1 % Increase

YTD passengers increased through May 2014

Bloomberg Colorado Index

662.8 Increase

Index up 0.4% from June to July

+8.6 % Increase

YTD Return through July 2014

Dow Jones / Industrial Average

16,563.3 Decrease

Index decreased 1.6% from June to July

-0.1 % Decrease

YTD Return through July 2014

Home Sales (Closed)

5,479 Increase

Sales up 5.5% from May to June

24,434 Decrease

YTD sales down 3.5% through June 2014

Median Home Price (Denver-Aurora MSA)

$288,400 Increase

Up 3.3% from 4Q 2013 to 1Q 2014

$288,400 Increase

YTD price 10.4% higher through 1Q 2014

Foreclosures

442 Decrease

Down 15.2% from Apr. to May

2,574 Decrease

Down 31.6% YTD through May 2014

Residential Building Permits (Total)

1,767 Increase

Permits increased 65.4% from May to June

8,921 Increase

YTD permits up 62.1% through May 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)

11.2 % Decrease

Vacancy rate down 0.3 percentage points from 1Q 2014 to 2Q 2014

-0.8 percentage points Decrease

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

Industrial Vacancy Rate (with Sublet)

3.7 % Decrease

Vacancy rate down 0.2 percentage points from 1Q 2014 to 2Q 2014

-1.7 percentage points Decrease

2Q 2014 vacancy rate down from 5.4% one year ago2Q 2014 vacancy rate down from 5.4% one year ago

Retail Space Vacancy Rate (with Sublet)

5.9 % Decrease

Vacancy rate down 0.1 percentage point from 1Q 2014 to 2Q 2014

-0.6 percentage points Decrease

2Q 2014 vacancy rate down from 6.5% one year ago

Economic Indicators August 2014 2014 YTD