MT unemployment rate decreases to 4.9 percent
News from the office of Governor Steve Bullock
MONTANA – Governor Steve Bullock announced Montana’s unemployment rate continued to decline to 4.9 percent in November, down from 5.0 percent in October. Montana’s rate remains lower than the national rate of 6.7% for November.
“Montana’s economic recovery continues to outpace the nation, with job growth much stronger than in previous recessions,” Governor Bullock said. “In order to continue strong job growth, we allocated an additional $20 million in Coronavirus Relief Funds to pay additional unemployment insurance benefits to claimants during December. These dollars are flowing to grocery and retail stores in our local communities, translating into an estimated $35 million of additional economic activity in the state.”
The labor force added 706 workers in November, bringing the level equal to the labor force in February prior to the pandemic and higher than November 2019. Payroll employment also posted a gain of 1,200 jobs over the month, with the most jobs added (1,300) in the professional and business services industry. This industry includes temporary employment services, which often increases employment during recession recoveries.
The Consumer Price Index for All Urban Consumers increased by 0.2 percent in November with broad-based increases in prices. The index for all items less food and energy, referred to as core inflation, also increased 0.2%.