Montana’s Unemployment Rate Decreases In April, Employment Levels Increase
Governor Greg Gianforte announced Friday, May 17, that Montana’s era of historic unemployment continued in April as the state’s unemployment rate fell to 3.1 percent and employment levels increased. The national unemployment rate rose to 3.9 percent.
“Montana’s economy is on the move,” Gianforte said. “While we face inflationary challenges brought on by President Biden’s historic spending spree, we’ll continue to support the small businesses and industries that create good-paying jobs and to help hardworking Montanans keep more of what they earn.”
Montana’s labor force grew by nearly 1,000 workers in April, with more Montanans working now than ever before.
In the months between November 2021 and October 2023, the state’s unemployment rate remained below 3.0 percent. Prior to Governor Gianforte taking office, the state’s unemployment rate fell below 3.0 percent in just three months in the last 50 years — January, February and March of 2007.
Payroll employment also increased by 500 jobs last month, with gains strongest in the professional services sector. Montana has averaged an increase of 1,000 payroll jobs each month for the first four months of 2024.
The Consumer Price Index for All Urban Consumers rose 0.3 percent overthe- month, slightly slower than April’s increases. The 12-month change in the allitems index was 3.4 percent. The index for all items minus food and energy, or core inflation, rose 0.3 percent in March.
According to a U.S. Department of Labor inflation report released this week, housing and gasoline costs were main contributors to overall inflation last month — accounting for more than 70 percent of the total monthly increase. The report also indicates grocery costs are up 1.1 percent from this time last year.
