Continues record stretch of 39 consecutive months of state’s unemployment rate at or below 3.4%

HELENA, MT – Governor Greg Gianforte on Oct 22nd, announced Montana’s unemployment was 3.3% in September, continuing a record stretch of low unemployment. Montana’s unemployment rate remained below the national rate of 4.1%.

“Thanks to our pro-business, pro-jobs policies, Montana’s unemployment rate remains near record lows,” Gov. Gianforte said. “While the Biden-Harris affordability crisis persists, we’ll continue to recruit investment into Montana to create more good-paying jobs and help hardworking Montanans keep more of what they earn.”

The state’s unemployment rate of 3.3% in September continues a record of 39 consecutive months with the rate at or below 3.4%. The next closest stretch was during 2006 and 2007, when the state’s unemployment rate remained at or below 3.4% 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% 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% of September’s monthly increase. The all-items index rose 2.4% 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% in September for a 12-month increase of 3.3.%.

** Unemployment figures are seasonally-adjusted. Seasonally-adjusted numbers remove the effects of events that follow a more or less regular month-to-month pattern each year. These adjustments make non-seasonal patterns easier to identify. The margin of error for the unemployment rate is plus or minus 0.5 percentage points at the 90 percent confidence level. All questions relating to the calculation of unemployment rates should be directed to the Montana Department of Labor & Industry’s Data and Operations Bureau at 406-444-4100.

The next Labor Market Information report, including data from October 2024, will be released on Tuesday, November 19.

**** INFORMATION AVAILABLE ON THE INTERNET ****

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

****** COUNTY UNEMPLOYMENT RATES ****** 

The unemployment rate and ranking for each of Montana’s 56 counties is provided below for your convenience. County unemployment rates and employment levels are not seasonally adjusted and should be compared to the unadjusted statewide unemployment rate of 3.0%. 
 

****** RESERVATION UNEMPLOYMENT RATES ****** 

The unemployment rate and ranking for each of Montana’s seven reservations is provided below.  Reservation unemployment rates and employment levels are not seasonally adjusted and should be compared to the unadjusted statewide unemployment rate of 3.0%. Reservation areas overlap with county areas, meaning that unemployed individuals living on a reservation will be included in both the reservation and county totals.