The Office of the Governor of the State of Montana

11/19/2024 | Press release | Distributed by Public on 11/19/2024 13:08

Montana Reaches 40th Consecutive Month of Unemployment at or Below 3.4%

Montana Reaches 40th Consecutive Month of Unemployment at or Below 3.4%

October unemployment rate remains at 3.3%

Governor's Office
  • November 19 2024

HELENA, Mont. - Governor Greg Gianforte today announced Montana's unemployment rate reached its 40th consecutive month of unemployment at or below 3.4%. In October, Montana's unemployment rate was 3.3%, while the national rate was 4.1%.

"Since 2020, Montanans have consistently said they want pro-jobs, pro-family, pro-business policies," Gov. Gianforte said. "Working with the legislature, we've delivered. We must build on our momentum by help hardworking taxpayers keep more of what they earn, recruit new investment, and create more good-paying jobs so that every Montanan can reach the American dream."

The state's historic stretch of low unemployment continues to break records. The next closest stretch was during 2006 and 2007, when the state's unemployment rate remained at or below 3.4% for 15 months.

Total employment increased slightly in October. Montana has added over 11,000 payroll jobs since January, led by growth in the healthcare, retail trade, and construction industries. 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.

October marked the fourth consecutive month that consumer prices rose 0.2% as measured by the Consumer Price Index for All Urban Consumers (CPI-U). The all-items index rose 2.6% for the 12 months ending in October. Core inflation, or the index for all-items less food and energy, rose 0.3% in October for a 12-month increase of 3.3.%. The indexes for shelter rose 0.4% contributed to more than 50% of October's monthly all items increase.

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** 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 November 2024, will be released on Friday, December 20th.

**** 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 2.5%.

Unemployment Rate

Employment

Rank

County

Current Unemployment Rate

Change over Year

Current Employment

Job Change from Last Year

1

Fallon

1.4

-0.5

1,653

61

2

Powder River

1.5

-0.8

1,036

16

3

McCone

1.6

-0.4

958

-8

4

Treasure

1.7

-1.5

338

9

5

Prairie

1.8

-0.4

652

-2

6

Daniels

1.9

-0.1

816

-30

6

Garfield

1.9

-0.6

719

-14

6

Meagher

1.9

-0.5

968

15

6

Sheridan

1.9

-0.5

1,695

-5

6

Sweet Grass

1.9

-0.6

1,882

2

11

Custer

2

-0.5

6,358

173

11

Stillwater

2

-0.6

5,127

-108

11

Valley

2

-0.4

3,911

29

11

Gallatin

2

-0.4

80,659

2614

15

Hill

2.1

-0.7

7,389

-58

16

Beaverhead

2.2

-0.3

5,234

224

16

Fergus

2.2

-0.5

5,746

66

16

Lewis and Clark

2.2

-0.5

38,762

1232

16

Teton

2.2

-0.8

2,749

58

20

Carter

2.3

-0.4

688

-5

20

Chouteau

2.3

-1.5

2,426

23

20

Dawson

2.3

-0.4

4,243

43

20

Jefferson

2.3

-1

6,099

179

20

Liberty

2.3

-0.5

950

-53

20

Park

2.3

-0.3

10,029

-191

20

Richland

2.3

-0.6

5,745

242

27

Powell

2.4

-0.5

2,923

22

28

Broadwater

2.5

-0.7

2,799

38

28

Deer Lodge

2.5

-0.1

5,251

-11

28

Judith Basin

2.5

-0.3

1,032

61

28

Petroleum

2.5

-0.7

270

1

28

Ravalli

2.5

-0.5

21,949

194

28

Yellowstone

2.5

-0.3

85,472

-151

28

Missoula

2.5

-0.5

67,415

288

35

Carbon

2.6

-0.2

5,697

-11

35

Toole

2.6

0.2

1,999

-22

35

Cascade

2.6

-0.3

38,300

9

38

Blaine

2.8

-0.8

2,115

8

38

Musselshell

2.8

-0.2

2,394

56

38

Phillips

2.8

-0.6

1,690

-4

38

Rosebud

2.8

-0.6

3,596

107

38

Silver Bow

2.8

-0.5

17,389

19

38

Flathead

2.8

-0.6

52,736

704

44

Lake

3

-0.6

13,922

12

44

Roosevelt

3

-0.8

4,074

-26

46

Granite

3.1

-0.4

1,610

-26

47

Pondera

3.3

0.2

2,433

-146

48

Sanders

3.5

-0.6

5,224

-97

48

Wibaux

3.5

-0.3

417

-8

50

Big Horn

3.6

-0.7

4,368

-45

51

Golden Valley

3.7

0.6

367

-2

52

Wheatland

3.8

0.5

727

0

53

Glacier

3.9

-0.9

5,471

-116

53

Lincoln

3.9

-0.4

8,568

203

55

Mineral

4.6

0.3

1,734

-64

56

Madison

5.3

1.4

3,484

-662

****** 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 2.5%. Reservation areas overlap with county areas, meaning that unemployed individuals living on a reservation will be included in both the reservation and county totals.

Unemployment Rate

Employment

Rank

County

Current Unemployment Rate

Change over Year

Current Employment

Job Change from Last Year

1

Flathead

3.2

-0.6

13,675

-5

2

Fort Peck

3.8

-0.9

3,680

-18

3

Crow

5.5

-1.1

2,260

-21

4

Blackfeet

5.8

-1

3,845

-89

5

Fort Belknap

6.6

-1.6

695

2

6

Northern Cheyenne

7

-1.3

1,243

20

7

Rocky Boy's

7.3

-3

1,067

-3

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