Michigan’s unemployment rate in July dipped slightly by one-tenth of a percentage point to 4.5%, according to data released today by the State of Michigan.

Despite the reduction in the unemployment rate thanks to 8,000 fewer people on the unemployment rolls, total employment also decreased by 20,000 over the month.

 State officials said the seasonally adjusted unemployment figure marked the lowest point since January 2001.

In that month, more than 15 years ago, the rate was 4.4%. However, the state’s labor force and employment levels fell significantly in the intervening years, according to state officials.

“In Michigan, we lost 766,000 jobs between 2001 and 2010,” Gov. Rick Snyder said in a statement Wednesday. “But in the past five and a half years, we have reinvented our state, creating more than 475,000 private sector jobs and decreasing Michigan’s unemployment rate to its lowest point in 15 years.”

Snyder added that demanding challenges remain.

“We have to strengthen our infrastructure, ensure access to reliable and affordable energy, and continue efforts to build a talented workforce,” he said.

The Michigan jobless rate in July 2016 was seven-tenths of a percentage point below the state’s July 2015 rate of 5.2%.  The state’s unemployment rate in July was four-tenths of a percentage point below the national rate, which was unchanged at 4.9% in July.

“Michigan continues to record gradual jobless rate reductions during 2016,” said Jason Palmer, director of the state’s Bureau of Labor Market Information and Strategic Initiatives.  “Additionally, payroll jobs have increased during the year, with the state averaging 8,000 job gains per month.”