MT reaches 24th consecutive month of unemployment below 3%
Hey savvy news reader! Thanks for choosing local.
You are now reading
1 of 3 free articles.
News from the Montana Dept. of Labor & Industry
HELENA — Governor Greg Gianforte today announced Montana reached its 24th consecutive month of unemployment below 3%. Prior to the governor taking office, Montana’s unemployment rate had fallen below 3% only three times since record-keeping began 50 years ago.
“Montana has seen two straight years of unemployment below 3%, shattering previous records,” Gov. Gianforte said. “With hardworking Montanans in mind, we’ll continue to cut red tape, lower taxes, and invest in a stronger workforce to make Montana an even better place to live, work, start a business, and raise a family.”
Payroll jobs in Montana rose by 1,600 in October, with the greatest gains in the leisure and hospitality industries, while total employment (which includes payroll, agricultural, and self-employed workers) fell slightly. Since January 2021, Montana has added nearly 40,000 jobs.
In October, Montana’s labor force grew by nearly 700 workers, adding nearly 9,000 workers since the start of the year.
Montana’s unemployment rate of 2.8% in November is below the national unemployment rate of 3.9% in October.
The Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October. Shelter costs continued to rise in October, offsetting a decline in the gasoline index. For the 12-months ending in October, the all-items index rose 3.2%. The index for all items minus food and energy, also called core inflation, increased by 0.2% for the month. For the year ending in October, core inflation was 4.0%.
Lake County ranked 44 out of 56 with a current unemployment rate of 3.6%, a 1.1% change over the past year. Current Lake County employment is 13, 972 people, down 146 jobs. The Flathead Reservation ranks first with the lowest unemployment rate of all seven reservations with an unemployment rate of 3.7%, a change of 1% in the past year. Current employment is 13,766, down by 89 jobs.
