Montana sees record low unemployment Rate

Montana’s unemployment rate set a new all-time low in February, declining 0.1% to 2.4%.

The February rate of 2.4% is the lowest level of unem­ployment in Montana since recordkeeping began in 1976. Montana’s unemployment rate is the fourth lowest in the nation.

Since January 2021, Mon­tana has created more than 34,000 jobs, and its labor force has grown by more than 26,000 workers. Both Mon­tana’s total employment and labor force are at their highest levels ever.

Total employment in Mon­tana (which includes payroll, agricultural and self-em­ployed workers) added a ro­bust 1,265 jobs in February, marking the highest level ever of total employment in Mon­tana at 557,272 jobs. Montana added 300 payroll jobs in Feb­ruary, with retail trade, leisure and hospitality, and accom­modations and food service adding the most jobs.

Total employment in Mon­tana is at 105.3% of pre-pan­demic levels.

Montana’s labor force con­tinued its growth by an ad­ditional 632 workers, bring­ing the state’s labor force to 571,034 workers. Montana’s unemployment dipped below 3% in November of 2021 and has remained at historic low levels since.

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