Business is booming in Colorado,reports The Prowers Journal.According to a new report, in the first three months of the year business formation has rebounded. Colorado employment is also projected to expand over the next two quarters. The news was a welcome relief after two consecutive quarters of business decline.
However, the state is experiencing a talent shortage, which is reflected in Colorado’s low unemployment rate of 3 percent. In the first part of this year, almost 30,000 businesses started up in Colorado.
That’s on pace to beat last year by a good margin. 2015 saw a total of about 105,000 new business for the entire year.
Economist Richard Wobbekind of CU-Boulder noted that: “This is consistent with what we’re seeing in employment growth. The Colorado economy [is] in . . . good condition.”