Montana’s unemployment rate fell to 3.2% in July, Gov. Greg Gianforte announced, continuing the state’s record stretch of low unemployment and remaining nearly a full percentage point below the national rate, which also declined over the month to 4.1%.
“As Montana’s unemployment rate continues to decline, businesses across our state are expanding, creating high-paying jobs, and opening up new opportunities for our workforce,” Gianforte said. “Through the 406 JOBS initiative, we are building on our strong momentum and capitalizing on our growing economy to ensure Montanans who are ready to work can get connected to a meaningful career.”
Total employment — including payroll, agricultural and self-employed workers — increased by 625 jobs in July, while the labor force remained largely unchanged. The number of unemployed Montanans fell by nearly 600 over the month, and payroll jobs increased by 700, with growth in professional and business services, retail trade and wholesale trade offsetting declines in accommodation and food service.
The Consumer Price Index for All Urban Consumers rose 0.1% on a seasonally adjusted basis in July. Over the past 12 months, the all-items index increased 3.4% before seasonal adjustment, with shelter costs accounting for roughly two-thirds of the monthly increase. Core inflation, which excludes food and energy, rose 2.5% over the past year.
“Montana’s unemployment rate is a positive sign for Montanans seeking their next opportunity,” said Sarah Swanson, commissioner of the Department of Labor and Industry. “As employers continue to hire, we are committed to helping Montanans connect with the skills, resources, and careers that allow them to thrive.”
The next Labor Market Information report, covering August data, will be released September 18.