Colorado has seen a significant population and employment growths in recent years, but they will slow down in 2018. However, this will not affect any major industry and the construction sector is expected to grow with 1,5% and add 2,500 jobs.
Residential construction was strong in 2017 and there will be no major changes in 2018. The demand for single-family construction may grow, if more millennials will take the decision to become homeowners and live independently, making single-family housing arrangements.
Other construction sectors may go down a bit, this year; it is mostly the case of retail, as well as hotels& motels. Public constructions may come back, after its decline in 2017.
The shortage of qualified workers will still be a problem, in 2018 (and probably in the years to come as well!) and most firms will struggle with recruiting new employees, although they are ready to increase bonuses. Young people are simply not interested in getting a job in constructions and it will take some more years until this situation will change.
Not least, the new tax plan is probably going to trigger some changes in the Denver jobs construction industry too, although the results will become visible later in the year.
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