Montana Reaches 20th Consecutive Month Of Unemployment Below Three Percent

Montana reached its 20th consecutive month of unemployment below three 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 percent 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 three percent. The index for all items minus food and energy, also called core inflation, increased by 0.1 percent for the month, the smallest one-month increase since August 2021. For the year ending in June, core inflation was 4.8 percent.

The unadjusted statewide employment rate is 2.7 percent, and this percentage is used when comparing county unemployment rates and employment levels, as these are not seasonally adjusted. Valley County is at 2.3 percent unemployment rate while surrounding counties Phillips is at 4 percent and Roosevelt is sitting at 3.8 percent, Garfield County is sitting at 2.6 percent, McCone County is at 1.8 percent and Daniels County is at 1.8 percent.

The next Labor Market Information report, including data from July 2023, will be released on Friday, August 18.

Visit http://www.lmi.mt.gov for additional information and analysis, including industry employment levels, background on the unemployment rate, and wage rates by occupation. Visit http://www.lmi.mt.gov/home/job-tracking for Montana unemployment claims and current economic data.