Governor Greg Gianforte announced that Montana’s unemployment rate remained at 2.8% in February, marking the 44th consecutive month of unemployment at or below 3.4%—a historic low. The strong labor market continues to be a key indicator of Montana’s resilient economy.
“Montana’s economy is strong, adding 3,000 new jobs and reaching a record-high labor force of nearly 580,000 in 2024,” Governor Gianforte said. “Fueled by our hardworking citizens and our commitment to tax cuts, we are creating an environment where businesses can grow and provide more well-paying jobs for Montanans.”
The 2.8% unemployment rate in Montana is 1.3% lower than the national average, which stood at 4.1% in February.
While the overall unemployment rate remained unchanged, total employment—which includes payroll, agricultural, and self-employed workers—declined slightly in February. Payroll jobs fell by 2,500, primarily due to decreased employment in the construction and government sectors.
The Consumer Price Index (CPI-U) increased by 0.2% on a seasonally adjusted basis in February. Shelter costs rose by 0.3%, accounting for nearly half of the monthly increase in all items. Over the past year, inflation has increased by 2.8%, with core inflation (which excludes food and energy) rising by 3.1%. The CPI saw a 0.2% increase in February, signaling moderate inflation trends.
Montana continues to lead the way in fostering a robust economy, offering a testament to the state’s commitment to conservative policies that allow businesses to thrive and workers to succeed.
By: DNU staff