Montana reaches 20th consecutive month of unemployment below 3%
News from the Dept. of Labor and Industry
HELENA — Montana reached its 20th consecutive month of unemployment below 3 percent in June, according to data compiled by the federal Bureau of Labor Statistics and the Montana Department of Labor & Industry. Since Governor Greg Gianforte was elected, Montanans have created more than 41,000 new jobs statewide.
“We’re creating an environment where businesses can thrive, create more good-paying jobs, and increase opportunities for all Montanans, and we’re seeing great results,” Gov. Gianforte said. “Wages in Montana grew at the fifth fastest rate in the nation last year, and we have more Montanans working now than ever before.”
Total employment in Montana, which includes payroll, agricultural, and self-employed workers, grew by 784 jobs in June to a new record high. The state’s labor force grew by 1,085 workers, after topping a record 575,000 workers in May.
Montana added 1,000 payroll jobs in June, largely driven by gains in the construction and administrative support industries. With labor force growth slightly outpacing total employment growth, the state’s unemployment rate was 2.4% in June.
In June, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent over-the-month. Shelter was again the largest contributor to the increase, followed by motor vehicle insurance. The 12-month change in the all-items index was 3 percent. The index for all items minus food and energy, also called core inflation, increased by 0.1 percent for the month, the smallest 1-month increase since August 2021. For the year ending in June, core inflation was 4.8 percent.