Denver labor and employment stats : Rooftop Views

Rooftop Views

Denver labor and employment stats

According to preliminary data from the Colorado Department of Labor & Employment, employment in Denver was up 1.9% in 2005 compared to 2.1% for Colorado as a whole and 1.5% for the US. That means that Denver employment grew at a healthier rate than the nation during each month of 2005.

Unemployment decreased in Denver to 4.5%, the lowest rate reported since September 2001. For the year, the enumployment rate in metro Denver averaged the same as the national rate and slightly higher than the Colorado rate of 5%.

First time unemployment claims filed in metro Denver increased to 6,048 in January 2006 - the highest level since January 2005. However the total number of claims filed in January 2006 was 11.4% lower than the number of claims filed in January 2005.

Other indicators are up as well. Retail sales, excluding cars, were up 2.2% in January - the best showing in 2 years. Consumer confidence in the mountain region was up to 143.6 from 114.4 in the previous month. The Colorado stock index increased 1.6% from the same period in 2005.

Sales of previously owned homes in January 2006 were 4.8% stronger than January 2005 and the number of homes under contract increased from December 2005 to January 2006. Metro Denver home prices increased 4.4% from fourth quarter 2004 to fourth quarter 2005.

The commercial market also appears to be making a come back. Vacancy rates for warehouses are down to 6.7% while vacancy rates for Class A office space is down to 20.2% in 2005 from 21.7% in 2004.

All information is taken from the Metro Denver Economic Development Corporation.