Montana’s labor force continues growth
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News from the Office of Governor Gianforte
MONTANA — Governor Greg Gianforte announced Montana’s unemployment rate decreased by 0.1 percent in July to 3.6 percent, while the unemployment rate for the U.S. was 5.4 percent for the month. The labor force also had strong growth over the month.
“Montana continues to attract workers back into our labor force, helping to alleviate pressure on employers who are looking to hire,” Governor Greg Gianforte said. “This report is good news for Montana businesses in the midst of the summer travel season and good news for workers who are enjoying higher wages as our economy makes a comeback from the COVID-19 pandemic.”
Montana’s total employment, which includes payroll, agricultural, and self-employed workers, grew by 2,162 in July, with strong growth in the labor force of 1,999 workers. Payroll jobs increased by 3,300 jobs in July. Accommodation and food services had strong growth with 2,900 jobs added.
The Consumer Price Index for All Urban Consumers increased 0.5 percent over the month in July. The 12-month increase was 5.4 percent, similar to the 12-month increase last month and signaling a moderation in inflationary pressure. Prices of used cars and trucks and energy commodities remain high compared to 12 months prior. The index for all items less food and energy, referred to as core inflation, increased 0.3 percent in July, with the 12-month increase lowering to 4.3 percent from 4.5 percent last month.
