MISSOULA — While core inflation increased, Montana's unemployment rate held steady at 2.8% in July, making it the 10th straight month with a rate below 3%.
It also marks the fourth consecutive year where the rate has sat below 3.4%, a new record, according to the Montana Department of Labor and Industry.
Gov. Greg Gianforte praised the figures in a statement released on Tuesday.
“For another consecutive month, Montana ranks in the top five states in the nation with the lowest unemployment rates – a testament to our historic job growth over the last four years,” Gianforte said.
According to the latest figures, Montana’s unemployment rate was 1.4% lower than the national rate of 4.2% in July.
The unemployment rate in Missoula County sat at 2.6% with a loss of 909 jobs over the prior year. The rate in Ravalli County was 2.8%, Lake County was at 3.3% and Flathead County was at 2.4%.
The construction and retail trade industries added the most jobs over the month, each adding 500 or more jobs. Payroll jobs increased by 500 jobs over the month with losses in government employment.
“We’ll continue to welcome historic business investment to the Treasure State and innovate through workforce development initiatives like 406 JOBS for Montanans to seek meaningful employment,” Gianforte added.
Over the last 12 months, the all-items index rose 2.7% with core inflation rising 3.1%. The index for all items minus food and energy, or core inflation, rose 0.3% in July.
