New entity filings in Q1 2024 decreased 19.2% year-over-year and increased 10% quarter-over-quarter. The seasonal increase from Q4 to Q1 occurred at a slower-than-average rate. A fee credit that reduced limited liability filing fees led to a surge in filings a year ago, and likely contributed to the decline in the current year. Colorado’s labor market remained tight in the first quarter. Colorado’s job opening rate ranked 4th-highest nationally in March, and the ratio of job openings to the number of unemployed individuals remained above the national average (1.7 versus 1.4). Colorado continued to record growth in jobs and income. Colorado posted job growth of 1.8% in April, adding 51,800 jobs year-over-year, ranking the state 15th for the pace of growth.
