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In Areas With Low Unemployment, Employees Are Hard to Keep

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The labor market is getting tighter as the U.S. jobless rate fell to 4.3% in May, the lowest level in 16 years. Colorado had the lowest unemployment rate of all states at 2.3% in April, according to the latest data from the Bureau of Labor Statistics, followed by Hawaii, North Dakota and New Hampshire. 

"It's a good problem to have on some level, but it is a business concern because in order to have economic growth, you need to have an available supply of labor," said Mark Melnik, the director of economic and public policy research at UMass Donahue Institute in Massachusetts.

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