Montana’s unemployment rate rose slightly to 3.4 percent in December, extending the state’s streak of over four consecutive years with unemployment at or below that level, according to the Montana Department of Labor & Industry.
The state’s jobless rate remains well below the national average of 4.4 percent, keeping Montana among the top ten states with the lowest unemployment rates in the nation.
“Working with the Department of Labor & Industry, we’ve identified a framework to ensure all Montanans in the labor force have a pathway to a career, college, military, or entrepreneurial opportunity,” Governor Greg Gianforte said. “Through 406 JOBS, we’re helping open the doors in the public and private sector to greater opportunity and a stronger workforce for our leading industries.”
Montana’s labor force added approximately 1,150 workers over the past month, while total employment — including payroll, agricultural, and self-employed workers — increased by 500, contributing to the slight uptick in the unemployment rate. Payroll jobs grew by over 2,000, with the largest gains seen in construction and leisure and hospitality sectors.
On the inflation front, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.3 percent in December on a seasonally adjusted basis. Over the last 12 months, the all-items index increased 2.7 percent, with shelter costs, which rose 0.4 percent in December, driving the monthly increase. Core inflation, which excludes food and energy, rose 2.6 percent over the past year.
Last August, the Montana Department of Labor & Industry reported that more than 100,000 working-age Montanans were not employed and not actively seeking work. Governor Gianforte’s 406 JOBS Initiative is aimed at helping Montanans enter or re-enter the workforce, with particular focus on industries such as health care, construction, hospitality and recreation, advanced manufacturing and computing, education and child care, and financial and professional services.
Officials say the initiative, paired with Montana’s historically low unemployment rate, positions the state to continue strengthening its workforce and expanding opportunities for residents.
By BSB Staff