Montana's Unemployment Rate Hits Another Record Low
March 30, 2022
Montana’s unemployment rate hit another record low in February, dropping to 2.6% for the month, down from January’s rate of 2.7%. Montana’s total employment and labor force continued to show strong growth in February, both setting new all-time highs.
“Hardworking Montanans and Montana businesses are fueling our historic economic recovery, with record-low unemployment in Montana and more Montanans working than ever before,” Governor Greg Gianforte said. “And while Montanans are making gains, skyrocketing inflation is making it harder to fill their gas tanks, put food on their table, and make ends meet. It’s time for the federal government to get inflation under control by putting an end to its out-of-control spending.”
Montana’s unemployment rate is the 5th lowest in the nation.
Since Governor Gianforte was elected in November 2020, more than 22,500 Montana jobs have been created.
Furthermore, the State of Montana has not only recovered all jobs lost since the start of the pandemic but also grown beyond that level, with 542,086 Montanans employed in February compared to 525,909 in March 2020.
Montana’s labor force reached its highest recorded level ever in February at 556,359. The state’s labor force grew by approximately 1,300 workers in the month, and approximately 950 fewer people were unemployed. Montana’s labor force has grown by nearly 11,000 workers from its pre-pandemic level in March of 2020.
Montana’s total employment, which includes payroll, agricultural, and self-employed workers, rose 2,328 in February to 542,086, the highest level recorded in Montana history.
While Montana’s unemployment rate was 2.6% in February, the unemployment rate for the U.S. was 3.8%.