Montana’s unemployment rate at 4.1 percent
Hey savvy news reader! Thanks for choosing local.
You are now reading
1 of 3 free articles.
News from the Governor’s Office
MONTANA – Montana’s unemployment rate remained level at 4.1 percent for the month of January. The U.S. unemployment rate also remained at 4.1 percent.
“Montana’s economy remains strong and we’re working directly with businesses large and small to get more folks into good paying jobs,” said Governor Bullock. “Communities continue to attract new and innovative business to Montana because of our friendly business climate and unparalleled quality of life, all while schools are getting students ready to take on the jobs of today and the future.”
Both payroll and total employment levels remained steady over the last month, with small gains in construction offset by small losses in other industries. In addition, the Department of Labor & Industry has released revised and updated statewide unemployment and employment growth numbers for the previous five years. Unemployment rate and employment estimates are revised each year in February in a process called benchmarking, which typically results in more accurate estimates and a smoother data series. Updated estimates suggest employment growth of 0.9 percent for 2017, or roughly 4,300 jobs. This employment growth rate is slightly slower than in previous years, but paired with continued output growth, simply reinforces that Montana businesses are struggling to find sufficient workers to support growth.
The Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.5 percent in January, with broad-based price increases across all goods. Over the last 12 months, the CPI-U has increased by 2.1 percent, staying within the Federal Reserve’s target for rates. The index for all items less food and energy, also called core inflation, increased 0.3 percent in January, with a change of 1.8 percent over the last year.
