Montana’s unemployment rate remained at 3.2% in November, continuing an unprecedented stretch of low unemployment that has persisted for 41 consecutive months, with rates at or below 3.4%.
The state’s historic run surpasses the previous record set in 2006-2007 when unemployment rates stayed at or below 3.4% for 15 months. In November alone, Montana added 900 payroll jobs, driven primarily by growth in the accommodation and food services sector. Since the start of the year, the state has added 12,000 jobs.
State officials attribute this sustained economic growth to a combination of favorable policies, a resilient labor market, and ongoing recovery efforts.
“Montanans are working hard, and our state’s economy is thriving,” a labor department spokesperson said. “The consistent job growth and historically low unemployment rates are a testament to the strength of our communities and businesses.”
The low unemployment comes amid a backdrop of rising consumer prices. November marked the fifth consecutive month that the Consumer Price Index for All Urban Consumers (CPI-U) increased, rising by 2.7% over the previous 12 months. Core inflation, which excludes food and energy costs, increased by 3.3% during the same period.
Shelter costs rose 0.3% in November, contributing to 40% of the monthly all-items index increase, highlighting the ongoing challenges of inflation for Montana families despite the positive job market.
Montana’s economic gains have been particularly strong in sectors like hospitality, with accommodation and food services leading job creation last month. The state continues to work on expanding opportunities in other industries to ensure long-term stability and growth.
As Montana’s unemployment rate remains one of the lowest in the country, officials remain optimistic about the future, emphasizing the importance of supporting workforce development and attracting new businesses to sustain the economic momentum.
