Montana continues to outperform much of the nation in employment, ranking third among U.S. states for the lowest unemployment rate, Governor Greg Gianforte announced. The state’s jobless rate held steady at 2.7% in April, trailing only South Dakota and North Dakota.
The figure marks an ongoing trend of low unemployment in Montana, maintaining 46 consecutive months at or below 3.4% and seven straight months below 3%.
“With more Montanans working than ever before, we’re continuing our historic stretch of near-record-low unemployment and leading the nation with the third lowest rate,” said Gov. Gianforte. “As we work to put more money back in the pockets of hardworking Montanans through our historic tax cuts, our economy continues to grow as businesses create more good-paying jobs.”
Montana’s unemployment rate is notably 1.5 percentage points lower than the national average of 4.2% recorded in April.
Despite the strong showing, total employment — including payroll, agricultural, and self-employed workers — saw a slight dip last month. Payroll jobs declined by 400, with gains in professional services, healthcare, retail trade, and transportation offset by losses in construction, accommodations, and food services.
Meanwhile, inflation indicators showed modest increases. The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% in April on a seasonally adjusted basis. Housing costs led the monthly uptick, with the shelter index increasing by 0.3%. Over the past year, the overall inflation rate rose 2.3%, with core inflation — which excludes food and energy — up 2.8%.
State officials remain optimistic that Montana’s economic growth and stable job market will continue, bolstered by tax reforms and expanding business opportunities.
By: BSH staff