Montana Hits Record Employment as Unemployment Rate Falls to 3.1%

Labor force continues post-pandemic growth, number of unemployed lowest since 2007

• November 19 2021

HELENA, Mont. – Governor Greg Gianforte today announced the number of employed Montanans hit an all-time high in October as Montana’s unemployment rate fell to 3.1%, a low achieved only six times over the last 45 years, according to the U.S. Bureau of Labor Statistics. Total employment grew by nearly 2,400 jobs while the labor force expanded by nearly 1,200 workers.

“By opening Montana for business, we have more Montanans working than ever before,” Governor Greg Gianforte said. “We’ll continue enacting policies that create more Montana jobs, increase opportunities, and bring the American dream into greater reach for more Montanans.”

Since Governor Gianforte was elected in November 2020, Montana’s unemployment rate has dropped from 4.5% to 3.1%, a low not seen since April 2007.

The state’s unemployment rate of 3.1% in October is down from 3.3% in September and down from 11.9% in April 2020. The lowest unemployment rate ever recorded in Montana was 2.8% in February of 2007.

Montana’s unemployment rate of 3.1% is below the national rate of 4.6%.

The number of employed Montanans hit a new record high of 525,220 in October. Montana’s total employment, which includes payroll, agricultural, and self-employed workers, grew by 2,395 in October, continuing the strong job growth posted since March.

Meanwhile, the number of unemployed Montanans fell to 16,908, the lowest number of job seekers without work since 2007.

The number of available workers in Montana’s labor force, a critical metric of concern during the current nationwide labor shortage, increased by 1,199. Private payroll job levels increased by 1,100 over the month, with a small decline in public sector employment.

The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.9% in October with broad-based increases in most goods. Gasoline prices increased 6.1%. The index for all items less food and energy, referred to as core inflation and an important metric for future inflation expectations, increased 0.6% in September. 

“Whether at the grocery store or the gas pump, Montanans are seeing their paychecks stretched thinner and thinner as inflation reaches highs we haven’t seen in more than a generation,” Gov. Gianforte said. “It’s time for the Biden administration to turn off the spigot of out-of-control spending to get inflation under control.”

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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 0.6 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 Research and Analysis Bureau at 406-444-4100.

The next Labor Situation Report for the month of November will be released on Friday, December 17th.

**** 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 1.9%. 

****** 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 1.9%. Reservation areas overlap with county areas, meaning that unemployed individuals living on a reservation will be included in both the reservation and county totals.

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