Good signs for state economy
More than 87,300 new businesses filed with the Colorado Secretary of State’s Office during the 12 months that ended June 30, a 10 percent increase over the 12 months that ended June 30, 2012, according to a report Wednesday from Secretary of State Scott Gessler.
Colorado also recorded more than 21,400 new entities in the second quarter, a 6 percent increase over second-quarter filings in 2012, the report said.
The higher number of business filings in the second quarter “suggests that Colorado will set a new employment record” in the third quarter of this year, according to the report.
The secretary of state’s report on employment appeared to back up his rosy prediction, with Colorado’s non-farm employment showing an increase of 2.7 percent, or 62,400 jobs, during the 12 months ending June 30.
Meanwhile, the unemployment rate dropped to 7 percent in June, down from 8.2 percent a year ago, the report said.
During the 12-month period that ended June 30, annual average wages in Colorado grew 3.3 percent and personal income rose by 4 percent.
The number of Colorado business firms in good standing also grew. A total of 513,063 were in good standing on June 30, a 9.5 percent increase from a year earlier.