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Colorado Unemployment Falls, But State Still Loses 700 Jobs

The state released its latest employment outlook Friday. 

Colorado’s unemployment rate dipped to 5.1 percent in July. That’s the lowest it's been since September 2008. It’s also a full percentage point below the nation’s unemployment rate that sits at 6.1 percent. 

However, Colorado did see a dip in nonfarm and private sector payroll jobs. That number decreased by 700 from July to August.

Joe Winter is a senior economist with the Colorado Department of Labor & Employment.

“It’s not a significant movement from a statistical standpoint," Winter says. "That is to say 700 out of well over 2 million jobs is rounding error almost. It reality it may revise to a positive number and quite often does in August."

Winter says overall Colorado’s economy is doing well.

“The recovery which has taken quite sometime to get to the United States as a whole is a little farther along in Colorado than in many other regions," he says. 

August unemployment and payroll numbers for the state should be released in mid-October.

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