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.