Montana’s Unemployment Rate Remains Near Historic Low

Friday, April 19, Governor Greg Gianforte announced that Montana’s unemployment rate was 3.3 percent in March as employment levels increased.

“Montana’s economy is thriving thanks to our projobs, pro-business policies,” Gov. Gianforte said. “While we continue to battle inflation, many businesses are hiring and providing good paying jobs. Our administration will continue to develop workforce opportunities so every Montanan has a chance to fulfill the American dream.”

Since Gov. Gianforte took office in January 2021, nearly 41,000 jobs have been created in Montana. Under his leadership, total employment reached an all-time high in December.

Montana’s unemployment rate of 3.3 percent remains below the national rate of 3.8 percent.

In March, total employment in Montana increased by 480 workers, while the labor force fell by about 150 workers. Payroll employment increased by 1,700 jobs with the strongest job gains in the healthcare and construction industries.

In March, the Consumer Price Index for All Urban Consumers rose 0.4 percent over-the-month. Increases in the shelter index and the gasoline index comprised over half of the monthly increase. The 12-month change in the all-items index was 3.5 percent. The index for all items minus food and energy, or core inflation, rose 0.4 percent in March.

According to the U.S. Joint Economic Committee, President Joe Biden's inflation tax has driven up costs for Montana households by 21.6 percent since he took office, making it harder for Montanans to make ends meet. Hardworking Montanans are paying about $1,110 more per month today for the things they need than when Biden took office.

In the last year, Biden's inflation has forced hardworking Montanans to pay 6 percent more for housing, 22 percent more for car insurance, 12 percent more for car repairs, and 10 percent more for baby food, according to the U.S. Bureau of Labor Statistics.