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.

September 2014 PDF Download Snapshot

Monthly Economic Indicators

Employment in Metro Denver increased 3.3 percent between July 2013 and 2014, creating an additional 48,100 jobs during the period. The Denver-Aurora MSA reported an increase of 3.2 percent, creating 41,900 additional jobs, during the same period. Employment in the Boulder MSA rose 3.6 percent in July compared with the previous year, representing 6,200 jobs. 

A National Association of Realtors report revealed that median home prices throughout the Metro Denver area were strong during the second quarter of the year. The Boulder MSA reported a 7.2 percent increase ($448,800) in home prices between the first quarter of 2014 and the second quarter of 2014. The Denver-Aurora MSA reported significant increases in home prices, reporting a 9.7 percent rise in prices over-the-quarter to $316,300.

Residential building permits for the Metro Denver area continued to report positive market trends through the end of July compared with the prior year. Metro Denver reported a 73.5 percent increase in total permits issued between July 2013 and 2014, with an additional 829 permits issued. 

Economic Indicators September 2014 2014 YTD

Nonfarm Employment Growth

+200 Increase

Employment was up 0.0% from June to July

+42,300 Increase

YTD employment up 2.9% through July

% 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 % No change

Unemployment was unchanged from June to July

5.6 % Decrease

Down from 2013 YTD average of 6.8%

Initial Unemployment Insurance Claims

7.3 % Increase

Claims decreased from May to June

-11.6 % Decrease

YTD average claims decreased 10.9% through June 2014

Total Retail Sales

34.7 % Increase

Metro sales increased from Feb. to Mar.

3.6 % Increase

YTD sales up through Mar. 2014

Consumer Confidence Index

86.1 Decrease

Index down 5.7% from July to Aug.

87.4 Increase

YTD average up 17.9% through Aug. 2014

Hotel Occupancy

89.2 % Increase

Increased 2.8 percentage points from June to July

76.6 % Increase

YTD occupancy up 8.7%

DIA Passengers

4.9 % Increase

Passengers increased from June to July

2.1 % Increase

YTD passengers increased through July 2014

Bloomberg Colorado Index

656.2 Decrease

Index down 1% from July to Aug.

+7.5 % Increase

YTD Return through Aug. 2014

Dow Jones / Industrial Average

17,098.5 Increase

Index increased 3.2% from July to Aug.

3.1 % Increase

YTD Return through Aug. 2014

Home Sales (Closed)

5,431 Decrease

Sales down 3.4% from June to July

33,083 Increase

YTD sales up 6.5% through July 2014

Median Home Price (Denver-Aurora MSA)

$316,300 Increase

Up 7.2% from 1Q 2014 to 2Q 2014

$302,400 Increase

YTD price 10.4% higher through 2Q 2014

Foreclosures

423 Decrease

Down 5.4% from June to July

3,444 Decrease

Down 40.7% YTD through July 2014

Residential Building Permits (Total)

1,957 Increase

Permits increased 10.8% from June to July

10,878 Increase

YTD permits up 64% through July 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 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 September 2014 2014 YTD