State Maintains Near Record Low Unemployment
Gov. Greg Gianforte has announced Montana’s unemployment rate remained at 2.8 percent in June, marking the ninth straight month under 3 percent and four consecutive years of unemployment at or below 3.4 percent, a new record.
“With more Montanans working now than ever before and historically low unemployment, we’re seeing the results of our pro-jobs policies,” Gianforte said. “This month marks a new record stretch of four years of low unemployment and reinforces Montana’s reputation as one of the nation’s best places to live, work, and raise a family.”
Montana’s unemployment rate was 1.3 percent lower than the national unemployment rate, which was 4.1 percent in June. Montana ranked in the top five states in the nation with the lowest unemployment rates.
Total employment (which includes payroll, agricultural, and self-employed workers) decreased slightly in June. Construction, financial activities, and professional services each added 500 or more jobs over the month. Payroll jobs fell by 500 jobs over the month with losses in retail and wholesale trade, private education, healthcare, administrative and support services, and federal government employment. The month of June marked the fourth consecutive month where the number of unemployed Montanans remained below 16,000 – near the record low of just under 14,000 which was reached in 2023.
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3 percent on a seasonally adjusted basis in June. The index for shelter rose 0.2 percent in June, the primary factor for the monthly all items increase. Over the last 12 months, the all-items index rose 2.7 percent with core inflation rising 2.9 percent. The index for all items minus food and energy, or core inflation, rose 0.2 percent in June.
