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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