Colorado is pacing ahead of the rest of the country for wage growth and GDP growth and is seeing significant increases in the number of new business filings and the number of business renewals, according to a report Monday released by the Colorado Secretary of State’s office.
Total wages rose 5.5 percent year-over-year in Colorado for the first quarter of 2018 — the most recent quarter for which such information is available — and per-employee wages jumped 4.1 percent during that period, according to the office’s Quarterly Business & Economic Indicators report. Nationally, wages rose 3.1 percent during the first three months of this year and per-worker wages jumped 2.6 percent during that period.
New-entity filings rose 9.3 percent year-over-year during the third quarter of this year, as a total of 125,356 new business filings were recorded over the 12 months through September, and business renewals increased 7.5 percent year over year, the report said. Business dissolution filings, however, rose at a faster year-over-year rate — 10.4 percent.
“It is very encouraging to see Colorado exceed national averages in both total wages and wages per employee,” Secretary of State Wayne Williams said in a news release. “Salaries are an important factor in attracting a skilled and talented employees to Colorado businesses for sustained economic growth.”
Read more at the Denver Business Journal: https://bit.ly/2AdgMoU
