Montana unemployment drops to 5.3 percent
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News from the office of Governor Bullock
MONTANA — Montana’s unemployment rate returned to a near-normal level of 5.3 percent in September after dropping from 5.6 percent in August. Economists typically consider normal unemployment levels to be between 4 percent to 5 percent.
The national unemployment rate has remained higher than Montana’s, at 7.9 percent for September. Montana has the 9th lowest unemployment rate in the nation.
In September, total employment posted strong employment gains of 4,250 over the month. Total employment includes payroll, agricultural, and self-employed workers. Total employment has regained over 48,000 jobs since the April recession low. Payroll employment also posted gains of 3,100 jobs over the month, with retail and leisure activities, which saw some of the most significant impacts from the pandemic, posting the largest gains and adding 1,200 jobs each. Payroll employment has increased by 42,600 jobs since April.
The Consumer Price Index for All Urban Consumers increased by 0.2 percent in September, with an increase in used cars and truck prices accounting for most of the rise. The index for all items less food and energy, also called core inflation, rose by 0.2 percent over the month and 1.2 percent over the last year.
