Montana unemployment rate at record 2.3%

Montana – According to a report released on Friday by the Department of Labor and Industry, Montana’s unemployment rate continued to decline in March and reached an all-time low of 2.3%.

The amount decreased each of the preceding four months, reaching its previous high of 2.4% in February.

Missoula County’s rate is 2.8%, down 0.3 points from the previous year.

“With our pro-jobs, pro-family policies and the unparalleled work ethic of Montanans, our economy is setting the standard for the nation,” Gov. Greg Gianforte said Friday in a statement. “We’ll continue to work with job creators to bring new folks into the workforce and make sure they get the training and skills they need to succeed, thrive and prosper.”

According to the most recent data, Montana’s total employment increased by 1,847 jobs in March. More than 4,600 jobs have been added in the first three months of 2023.

The results for March also mark the 17th month in a row that Montana’s unemployment rate has remained below 3%. Since he entered office, more than 37,000 new jobs, according to Gianforte, have been generated in the state.

Democrats attribute the increase in jobs to recent legislation passed by Congress, including the Infrastructure Investment and Jobs Act and other measures.

Gianforte, however, has attributed the new legislation as the cause of the inflation, which rose by 0.4% in March and 5.6% over the previous year.

In March, the unemployment rate in Lake County was 3.4%, compared to 3% in Ravalli County. Mineral and Lincoln counties were 5.9% and 6.1%, respectively, while Glacier and Sanders counties were 5.5% and 5.9%, respectively.

For your convenience, we’ve listed the unemployment rate and rankings for each of Montana’s 56 counties below. County unemployment rates and employment levels should be compared to the 2.8% uncorrected statewide unemployment rate because they are not seasonally adjusted.