New Record Low: Montana’s Unemployment Rate Falls to 2.3%

At Highest Level in 41 Years, Inflation Threatens Montana’s Strong Job Creation

Governor's Office
  • April 15 2022
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HELENA, Mont. – Montana’s unemployment rate fell to a new record low in March to 2.3%, the fourth lowest rate in the nation. Montana’s labor force and total employment are at record highs. Inflation, however, has reached a 41-year high, undermining Montanans’ wage growth and threatening Montana job creation and economic growth.

“Because of Montanans’ hard work, we’re at our lowest unemployment rate ever, and more Montanans are working than ever before,” Governor Greg Gianforte said. “While Montana’s rapid economic growth has lowered our unemployment rate and driven wage growth, a well-skilled workforce has never been more important. We’ll keep working with Montana’s employers to bring new people into the workforce and make sure they get the training and skills they need to succeed, thrive, and prosper.”

Since Gov. Gianforte was elected, Montana’s unemployment rate has dropped from 4.2% to 2.3%. Four of the 5 months with the lowest unemployment rate in Montana history have been on Gov. Gianforte’s watch – March 2022, February 2022, January 2022, and November 2021.

The unemployment rate for the U.S. was at 3.6% for March.

Nearly 26,000 jobs have been created in Montana since Gov. Gianforte was elected in November 2020. Montana’s total employment is at its highest level ever recorded with 545,360 Montanans working. Montana’s total employment, which includes payroll, agricultural, and self-employed workers, continued to experience rapid growth, posting gains of 3,267 in March.

Montana’s labor force is also at its highest level ever recorded at 558,466. In March, roughly 2,105 new workers entered Montana’s labor force.

Also in March, 1,162 fewer Montanans were unemployed than in February, and since Gov. Gianforte was elected, the number of unemployed Montanans has fallen by more than 42 percent, from 21,764 to 13,106.

On Tuesday, the U.S. Bureau of Labor Statistics (BLS) reported inflation has increased 8.5 percent in the last 12 months, marking the highest annual increase since 1981.

“At a 41-year high, inflation is robbing Montanans of their hard-earned money and erasing gains they’re getting with their take-home pay,” Gov. Gianforte said. “It’s far past time for the Biden administration to stop passing the buck and get inflation under control.”

According to BLS, an agency of the U.S. Department of Labor, over the past 12 months,

  • Grocery prices are up 10.0%
    • Meats, including beef, pork, and chicken, up 14.8%
    • Eggs, up 11.2%
    • Milk, up 13.3%
    • Coffee, up 11.2%
    • Fresh fruits, up 10.1%
    • Baby food, up 10.8%
  • Gas prices are up 48.0%
  • Used car and truck prices are up 35.3%
  • Energy service prices, including electricity and piped gas service, are up 13.5%
  • Fuel oil prices are up 70.1%
  • Rent prices are up 4.4%
  • Clothing prices are up 6.8%
  • Airfare prices are up 23.6%

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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 Market Information report including data from April 2022 will be released on Friday May 20.

 

**** 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 2.8%.  

 

Unemployment Rate

Employment

Rank

County

Current Unemployment Rate

Change over Year

Current Employment

Job Change from Last Year

1

Daniels

1.6

-0.6

895

 38

1

McCone

1.6

-0.3

1,014

 30

3

Fallon

1.8

-1.6

1,626

 70

3

Gallatin

1.8

-1.1

74,687

 4,714

5

Chouteau

2

-1.5

2,518

 86

5

Liberty

2

-0.5

1,027

 32

5

Sweet Grass

2

-1.3

1,948

 115

5

Toole

2

-1.4

2,035

 33

9

Petroleum

2.1

-0.8

284

 15

10

Carter

2.2

-0.8

682

 36

10

Hill

2.2

-1.5

7,490

 241

10

Meagher

2.2

-0.8

1,051

 61

10

Sheridan

2.2

-2.2

1,789

 64

14

Dawson

2.3

-1.6

4,490

 124

14

Madison

2.3

-1.7

5,302

 298

14

Stillwater

2.3

-1.3

5,535

 197

17

Beaverhead

2.4

-1.1

5,150

 235

17

Lewis and Clark

2.4

-1.4

37,075

 1,602

19

Judith Basin

2.5

-1

995

 61

19

Powder River

2.5

-0.9

1,010

 58

19

Treasure

2.5

-1.7

357

 11

19

Yellowstone

2.5

-1.5

83,994

 4,098

23

Pondera

2.6

-1.2

2,664

 63

23

Teton

2.6

-1.6

2,863

 138

23

Wibaux

2.6

-1.7

408

 (11)

26

Carbon

2.7

-1.5

5,662

 271

26

Jefferson

2.7

-1.4

5,886

 257

28

Custer

2.8

-1.5

6,190

 216

28

Garfield

2.8

-0.1

769

 30

28

Powell

2.8

-0.9

2,938

 194

28

Richland

2.8

-2.3

5,866

 289

28

Cascade

2.8

-1.4

37,456

 1,261

28

Missoula

2.8

-1.5

64,731

 3,152

34

Deer Lodge

2.9

-1.2

5,016

 150

34

Valley

2.9

-1.3

4,008

 141

36

Blaine

3.1

-1.3

2,264

 55

36

Golden Valley

3.1

-0.7

374

 17

36

Musselshell

3.1

-2.3

2,341

 114

36

Park

3.1

-1.8

8,893

 482

40

Ravalli

3.2

-1.5

21,120

 879

40

Silver Bow

3.2

-1.6

17,256

 846

42

Lake

3.3

-1.7

14,001

 842

43

Broadwater

3.4

-1.9

2,637

 120

44

Fergus

3.5

-1.1

5,803

 304

45

Rosebud

3.6

-1.2

3,467

 85

45

Flathead

3.6

-1.9

50,258

 2,825

47

Phillips

3.7

-1.8

1,830

 36

47

Roosevelt

3.7

-1.6

4,225

 67

49

Prairie

3.8

-0.9

503

 34

50

Wheatland

4.1

-2.5

764

 34

51

Granite

4.4

-1

1,665

 83

52

Sanders

5.4

-0.9

5,074

 272

53

Mineral

5.7

-1.1

1,779

 110

54

Glacier

5.9

-2.5

5,253

 309

55

Big Horn

6.1

-3.4

4,325

 87

56

Lincoln

6.3

-1.9

7,691

 305

 

****** 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 2.8%. 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

Area

Current Unemployment Rate

Change over Year

Current Employment

Job Change from Last Year

1

Flathead

3.5

-1.8

13,703

 815

2

Fort Peck

4.8

-2

3,813

 69

3

Rocky Boy’s

7.2

-4.5

1,089

 35

4

Fort Belknap

7.6

-3.1

745

 18

5

Blackfeet

8.2

-3.3

3,720

 211

6

Crow

9

-4.9

2,236

 52

7

Northern Cheyenne

9.2

-3.4

1,209

 27

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