Governor Greg Gianforte announced today that Montana's unemployment rate for September remains at 3.3%, continuing a historic streak of low unemployment for the state.

This figure keeps Montana well below the national average of 4.1%, marking 39 consecutive months of unemployment at or below 3.4%. The closest previous stretch of sustained low unemployment was from 2006 to 2007, when the rate stayed under 3.4% for 15 months.

“Thanks to our pro-business, pro-jobs policies, Montana’s unemployment rate remains near record lows,” said Gov. Gianforte. “While the Biden-Harris affordability crisis persists, we’ll continue to recruit investment into Montana to create more good-paying jobs and help hardworking Montanans keep more of what they earn.”

A report from the Montana Department of Labor and Industry shows the state’s labor force reached a record high of 580,000 people in 2023, with more than 10,000 Montanans joining the workforce over the past year.

In September, total employment held steady, with about 1,100 individuals entering the labor market. Payroll employment saw an increase of 1,500 jobs, primarily driven by gains in healthcare and professional services.

By the end of the third quarter of 2024, Montana had added over 15,000 payroll jobs, with healthcare, retail trade, and construction leading the growth.

Meanwhile, inflation concerns continue. The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.2% in September, marking the third consecutive month of price increases.

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Shelter and food costs accounted for 75% of the month’s increase. Over the past 12 months, the all-items index grew by 2.4%, the smallest increase since February 2021. Core inflation, which excludes food and energy, saw a 3.3% rise over the same period.

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