Montana Unemployment Rate Remains Low Despite National Increase

Governor Greg Gianforte has announced that Montana’s unemployment rate remained at 3.1 percent in July, while the national rate rose to 4.3 percent, according to data from the U.S. Bureau of Labor Statistics (BLS) and the Montana Department of Labor and Industry.

“Our pro-jobs, pro-family, pro-business policies are helping keep Montanans working while the national unemployment rate rises...” Gov. Gianforte said. “Many businesses across Montana are providing good-paying jobs across our state. 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.”

The state’s unemployment rate of 3.1 percent in July continues a record of 37 consecutive months with the rate at or below 3.4 percent. The next closest stretch was during 2006 and 2007, when the state’s unemployment rate remained at or below 3.4 percent for 15 consecutive months.

Since Gov. Gianforte took office in January 2021, nearly 40,000 jobs have been created in Montana. More Montanans are working than ever before, with total employment rising by 1,227 in July, bringing total employment in the state to 562,000 Montanans working. Private sector job gains were driven by increases in health care and the accommodations and food service industries.

The number of people in the state’s labor force rose by 1,579 in July, reaching another record high of more than 580,000 Montanans in the labor force.

Despite the encouraging jobs report, inflation continues to make it harder for Montana families to make ends meet.

BLS reports the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2 percent in July, on a seasonally adjusted basis for a 12-month change of 2.9 percent. Energy prices were unchanged while prices for shelter and food increased. The index for all items minus food and energy, or core inflation, rose 0.2 percent in July.

The unadjusted statewide employment rate is 3.1 percent, and this percentage is used when comparing county unemployment rates and employment levels, as these are not seasonally adjusted. Valley County is at 2.4 percent unemployment rate while surrounding counties Phillips is at 4.1 percent and Roosevelt is sitting at 4.5 percent, Garfield County is sitting at 2.3 percent and Daniels County is also at 2 percent.

Visit the website at 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.