Montana’s financial and professional services sector has emerged as the leading driver of state economic production, according to a new analysis from the Department of Labor and Industry released as part of the Gianforte administration’s 406 JOBS workforce initiative.
The report shows more than 66,000 Montanans — roughly 13 percent of the state’s total workforce — were employed in financial and professional services in 2024, earning an average annual wage of $73,610, well above the statewide average of $60,037 across all industries.
The sector spans a broad range of occupations including insurance, real estate, law, accounting, engineering, marketing and administrative support, offering career pathways at varying education and skill levels. About one-third of projected openings will require a certification or college degree, while the majority are expected to be accessible through skills-based pathways and industry-recognized credentials.
Employment in the sector has grown faster than overall statewide employment for the past decade and is projected to continue on that trajectory. Over the next 10 years, DLI expects more than 6,700 job openings annually in financial and professional services, driven largely by retirements and workers transitioning out of the industry. Occupations facing projected shortages in the coming years include accounting clerks, paralegals and architects.
Gov. Greg Gianforte said the sector’s growth reflects broader expansion in entrepreneurship and innovation across Montana and pointed to the 406 JOBS initiative as the administration’s vehicle for connecting more Montanans with the training needed to fill those roles. Launched last year through Executive Order 5-2025, the initiative outlines 12 priorities across the workforce system aimed at aligning state resources with employer demand, expanding registered apprenticeship pathways, preparing workers for artificial intelligence and automation opportunities, and building local partnerships in high-demand sectors.
Commissioner of Labor and Industry Sarah Swanson said the data underscores a sustained and growing demand for skilled workers across the state, and emphasized that many of the available opportunities do not require a traditional four-year degree.
By DNU staff