Job growth in Colorado is expected to continue through at least the first quarter of next year, despite a dip in new business formation filings, state Secretary of State Wayne Williams said Tuesday.
According to the from the University of Colorado and the Colorado Secretary of State’s Office, 25,164 new entity filings were made during the third quarter, which ended in September.
The total is down about 9 percent from third quarter last year, when , during which the cost of filing new business registrations temporarily dropped to $1 from $50, resulted in “anomalous growth,” according to the report.
New entity filings are down about 3.5 percent from the second quarter.
“Although new filings are down quarter over quarter and year over year, the level is sufficient to sustain continued growth in the economy, albeit at a slower pace,” said economist Richard Wobbekind, executive director of CU-Boulder’s Business Research Division, in a statement.
For the 12-month period that ended in September, Colorado added 41,500 jobs. However, the state is not seeing big enough gains in wages to lure workers back into the labor market.
“I’m not sure I would put much weight on the idea we are getting to a tight labor market,” said state economist Alexandra Hall .
Alicia Wallace: 303-954-1939, awallace@denverpost.com or @aliciawallace
