''The reduction in construction starts combined with lowerinterest rates are expected to keep the Denver retail marketrelatively stable,'' he adds. ''In the near term, demand for newspace is expected to remain moderate, pushing vacancies upslightly.''

Despite the recent round of layoffs, estimated by state budgetczar Nancy McCallin at 30,000, the business service sector willcreate at least 25,000 new jobs this year, Osborne notes.

While unemployment is rising, it still remains below thenational average.

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