Missoula, MT – Governor Greg Gianforte announced that Montana’s unemployment rate has fallen to 3.1% in December, continuing a remarkable streak of 42 consecutive months with the rate at or below 3.4%. The December figure represents a slight decrease from the previous month, when the unemployment rate stood at 3.2%. The state’s unemployment rate remains a full point lower than the national average.
In a statement, Governor Gianforte expressed pride in the state’s economic performance, calling it “a model for the nation.” He emphasized that Montana’s economy has proven to be resilient and strong, with wage growth consistently outpacing inflation over the past four years. The governor’s office further highlighted that the state’s continued success in maintaining historically low unemployment is a testament to its thriving job market and good-paying employment opportunities.
Montana’s total employment—which includes payroll, agricultural, and self-employed workers—remained largely unchanged in December. However, the number of unemployed individuals decreased by 715 from the previous month. While payroll jobs saw a modest increase of 100, the state experienced growth in certain sectors such as accommodations and food services, which helped offset declines in transportation, warehousing, and utilities.
The state’s economic outlook remains positive as wage growth and job opportunities continue to grow. While national inflation has posed challenges, Montana’s economy has largely withstood the pressures, contributing to its lower unemployment rate and continued economic stability.
Meanwhile, national data from December showed a 0.4% increase in the Consumer Price Index for All Urban Consumers (CPI-U), with a notable 2.6% rise in energy prices. Despite these rising costs, Montana’s lower unemployment rate, coupled with wage growth that outpaces inflation, positions the state’s economy as a standout in the U.S.
Governor Gianforte concluded his remarks by reiterating that Montana’s economic resilience reflects the state’s commitment to fostering a business-friendly environment and creating opportunities for all Montanans. With low unemployment rates, strong job growth, and wages continuing to rise, Montana’s economic future remains bright.
