Montana's Unemployment Rate Remains at Historic Lows

Governor Greg Gianforte has announced Montana’s unemployment was 3.3 percent in September, continuing a record stretch of low unemployment. Montana’s unemployment rate remained below the national rate of 4.1 percent.

The state’s unemployment rate of 3.3 percent in September continues a record of 39 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.

In a recent report, the Montana Department of Labor and Industry announced that under Gov. Gianforte’s leadership, Montana’s labor force reached a record high of 580,000 people in 2023, with more than 10,000 Montanans entering the labor force last year alone. Total employment remained mostly unchanged in September with approximately 1,100 people entering the labor market. Payroll employment rose by 1,500 jobs in September, with healthcare and professional services leading private sector gains. At the close of the third quarter of 2024, Montana added over 15,000 payroll jobs, led by growth in the healthcare, retail trade, and construction industries.

September marked the third consecutive month that consumer prices rose 0.2 percent as measured by the Consumer Price Index for All Urban Consumers (CPI-U). The indexes for shelter and the index for food contributed to 75 percent of September’s monthly increase. The all-items index rose 2.4 percent for the 12 months ending in September, the smallest 12-month increase since February 2021. Core inflation, or the index for all-items less food and energy, rose 0.3 percent in September for a 12-month increase of 3.3 percent.

The unadjusted statewide employment rate is 3 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 3.3 percent and Roosevelt is sitting at 3.4 percent, Garfield County is sitting at 2.4 percent while Daniels County is at at 2.4 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.