Colorado employment is poised to modestly expand extending into 2017, according to a University of Colorado Boulder report released today by Colorado Secretary of State Wayne Williams.
The quarterly indicators report, prepared by CU Boulder鈥檚 at the , uses data from the secretary of state鈥檚 business registry to report correlations between the data and economic metrics.
鈥淪everal months ago our office was excited to surpass a record of 600,000 business entities in good standing,鈥� Secretary Williams said. 鈥淚鈥檓 happy to report that business formation continues to accelerate beyond that number.鈥�
In the three-month period ending in September, there were 119,385 business entity renewals, an increase of 4.1 percent compared with the third quarter of 2015. Limited liability companies once again drove year-over-year growth in entities in good standing.
鈥淭his data confirms that Colorado is likely to see continued, moderate employment growth into 2017,鈥� said economist Richard Wobbekind, executive director of the Business Research Division.
During the third quarter, a total of 27,008 new business filings were recorded with the Secretary of State鈥檚 office, a decrease from the second quarter of 2016, but an increase of 7.3 percent over the prior year. Colorado recorded 108,068 new entities during the 12 months ending in June, a 5.2 percent increase over the previous 12 months. The third quarter finished with 619,477 total entities in good standing in the business registry, a 5.4 percent increase over the prior year.
Visit the to view current and past reports, or to sign up to receive reports by email.
