State’s Unemployment Rate Dips To 3.3 Percent

Montana Gov. Governor Greg Gianforte announces the number of employed workers in Montana hit an all-time high in September and the unemployment rate fell to 3.3 percent, a low not seen since June 2007.

“Montana is in the midst of a historic economic recovery. We’ve recovered all jobs lost since the start of the pandemic, and more Montanans are working now than in our state’s history,” Gianforte said. “As we lead the Montana comeback, we’ll continue making Montana more competitive with lower taxes and less red tape, so folks throughout our state can prosper and have access to greater opportunities.”

Roosevelt County ranks 43rd in the state with an employment rate of 2.3 percent.

McCone County and Gallatin County rank first for unemployment at 1.3 percent. Daniels County ranks third at 1.4 percent.

Other Eastern Montana counties include Valley in ninth at 1.7 percent, Phillips and Sheridan each in 24th at 1.9 percent, and Richland in 46th at 2.4 percent.

Montana’s total employment, which includes payroll, agricultural and self-employed workers, grew to 523,116 in September, the highest level on record for the state. Montana has recovered all the jobs lost since the start of the pandemic in March 2020.

Montana’s unemployment rate fell to 3.3 percent, a low last seen in June 2007. The state’s unemployment rate in September is down from 3.5 percent in August, down from 5.2 percent from a year earlier, and down from 11.2 percent in April 2020.

The number of unemployed workers in Montana fell to 18,116, the lowest number of job seekers without work since July 2007.

On top of posting record employment growth, the state’s labor force grew by an additional 554 workers to a total of 541,232. More than 13,000 workers have returned to Montana’s labor force since May 2020, and 99.8 percent of Montana’s labor force has recovered to its pre-pandemic level. Payroll job levels stayed relatively stable over the month, declining by 200 jobs (well within the margin of error). Over the last three months ending in September, private payroll employment has increased by 1,100 payroll jobs, while government jobs have declined.

The unemployment rate for the U.S. dropped to 4.8 percent.

The rate of inflation remains elevated, growing 5.4 percent in the last 12 months with energy prices up nearly 25 percent and food prices up 4.6 percent. The Consumer Price Index for All Urban Consumers increased by 0.4 percent over the month ending September. Price increases occurred mostly in food and energy. The index for all items less food and energy, referred to as core inflation, increased 0.2 percent in September.