The good news for Colorado’s small businesses is that the state’s jobless rate is down to 4.7 percent – but that’s also the bad news. Strong employment gains mean rising incomes and more spending at small businesses, according to Vectra Bank economist Jeff Thredgold. But, Thredgold also said that when unemployment numbers drop, it usually means workers leave small businesses for jobs with larger companies, lured away by higher salaries and better benefits.
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