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. ÃÛÌÇÖ±²¥â€™s labor market remained tight in the first quarter. ÃÛÌÇÖ±²¥â€™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). ÃÛÌÇÖ±²¥ continued to record growth in jobs and income. ÃÛÌÇÖ±²¥ posted job growth of 1.8% in April, adding 51,800 jobs year-over-year, ranking the state 15th for the pace of growth.
