Historic Montana job growth continues in August
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News from the office of Governor Greg Gianforte
HELENA — On Friday, Sept. 16 Governor Greg Gianforte announced both the number of Montanans working and the size of Montana’s labor force grew to new all-time highs in August, according to data compiled by the U.S. Bureau of Labor Statistics (BLS) and the Montana Department of Labor & Industry.
“Hardworking Montanans are fueling our strong economy, which grew at the seventh fastest rate in the country last year,” Gov. Gianforte said. “With more Montanans working than ever before, business owners are filling positions in key industries like health care, construction and manufacturing.”
Since November 2020, nearly 32,000 jobs have been created in Montana.
Montana’s total employment hit a record high in August, growing by 610 workers with more than 551,000 Montanans employed. August marks the 28th consecutive month of employment growth in Montana.
The state’s labor force continued its record growth in August, adding 1,361 workers and exceeding 567,000 Montanans for the first time ever. August marks the 8th consecutive month of labor force growth.
Montana’s labor force participation rate also continues to grow, reaching 62.7% in August. As in the previous three months, growth in the labor force slightly exceeded employment growth, leading to a slight increase in the state’s unemployment rate to 2.8%.
Inflation and rising prices continue for consumers, as the Consumer Price Index for All Urban Consumers rose 0.1% over-the-month while the 12-month change in the CPI-U remains high with an 9.6% increase over-the-year in the Mountain West. Inflation over the last 12 months ticked down slightly in August to 8.3%.
According to BLS, between August 2021 and August 2022, gas prices increased nationally by 25.6%, energy services prices by 19.8%, grocery prices by 13.5%, baby food prices by 12.6%, infants’ and toddlers’ apparel prices by 8.6%, airfare prices by 33.4%, and new vehicle prices by 10.1%.
