Bucking nervousness over the direction of the economy as tariffs and other worries are reckoned, metro Denver is looking at some positive indicators coming into fall, as new tech jobs and venture capital arrive.

That’s according to the latest monthly indicators issued jointly by the Denver Metro Chamber of Commerce and the metro area’s Economic Development Corporation in a report on the area’s performance on jobs, investments and other factors.

Among the reassuring numbers were projections showing the metro area poised to add some 5,042 new tech jobs this year, according to the tech industry’s job certification group CompTIA. The number, the report said, would rank the area sixth in the nation for tech-job growth.

Denver’s tech sector contributes 13% to the area economy, the ninth highest contributor of tech jobs to the broader economy in the nation, the report added.

Venture capital growth

The area also received some $1.7 billion in venture capital during the second quarter, which represents a sharp increase over the first quarter. That was despite the fact that venture capital investments had declined nationally during the latest quarter, according to the financial data company Pitchbook.

The new investments mark a 7% rise over venture capital investments during second quarter 2024.

Hanna Scovill, economist and senior manager of economic competitiveness chamber, told The Denver Gazette that the labor market in particular was pointing to a more resilient economy.

“We’re still seeing job gains, with growth slowing but remaining positive,” Scovill said, noting that unemployment along the Front Range declined steadily through the second quarter from a peak of 5.2% in February.

Nonfarm employment increased from May to June 2025, and the unemployment rate dropped over the month to 4.5%, according to the report.

Colorado’s unemployment rate fell for the second month in a row in July, even as the national labor market is seen as softening. The state’s jobless rate declined to 4.5% last month, down two-tenths of a percentage point from June, the Colorado Department of Labor and Employment reported Friday.

Steady progress

Scovill said the trend aligns with slower hiring but with limited layoffs, also reflected by a slowing of initial unemployment claims.

“The outlook remains one of slow-but-steady progress,” Scovill added. “Employers appear cautious — adding fewer jobs but avoiding significant layoffs.”

The local convention market, meanwhile, was poised to generate close to a billion dollars in economic impact this year, according to the newest expectations. That would put that market above pre-pandemic performance, according to Visit Denver.

Denver’s Colorado Convention Center is anticipating a $672 million economic impact, exceeding a record impact of $540 million in 2019. The report attributed that positive performance in part to a 2023 expansion that had added 135,000 square feet of space, helping book 27 meetings. Hotel conventions were expected to deliver an additional $308 million in impact.  

The report also weighed in some positive national indicators, including the Dow Jones average, up marginally from June to July, and national retail sales, which showed a 4.3% increase from April to May.

Higher office vacancies

The Chamber’s and EDC’s report also conveyed some generally negative indicators on residential and commercial real estate performance, as the markets grapple with higher inventories of homes and commercial space, and lackluster sales.

Office vacancies for the Front Range stood at 14.3%, up marginally over the previous quarter and up more than a percent over last year, the report said. Industrial vacancies were up 7% and retail vacancies increased 4% over the quarter.

That was against a national backdrop that saw U.S. office vacancies hit a record high of 20.6% last quarter, according to Moody’s Analytics. Leasing activity nationally is still reported well below pre-pandemic averages, although markets in San Francisco and Manhattan were showing rebounds, the report said.  

Apartment vacancies in the metro area, however, showed a drop over the quarter to 6.4%.

Possibly reflecting national uncertainties, area consumers were voicing concerns about the direction of the economy — with mountain region consumer confidence dropping 4% from June to July to an indexed rating of 90.3, down 18% over the same period a year ago.

The Chamber’s Scovill said that the broader picture was one of resilience and gradual growth.

“Much will depend on broader macroeconomic clarity and potential policy easing, which could provide a modest boost,” she said.