Montana Unemployment Rate 3.8%
Montana’s unemployment rate declined in March to 3.8 percent, the state’s third consecutive month of lower unemployment rates. Nationwide, the unemployment rate was 6.0 percent in March.
“For the third consecutive month this year, Montana has seen the benefits of a safe reopening as our unemployment rate continues its downward trend,” said Governor Greg Gianforte. “As we continue to reopen and get back to normal, too many of our businesses struggle to find workers, and I remain committed to getting more Montanans back into the workforce with good-paying jobs.”
Payroll employment posted strong growth of 4,000 jobs over the month, reflecting large gains in industries severely impacted by the pandemic. The Leisure and Hospitality sector added 1,300 jobs, while the Manufacturing, Education, and Health sectors each added 800 jobs. Montana’s total employment, which includes payroll, agricultural, and self-employed workers, grew by 1,210 jobs in March. The labor force grew by 439 workers in March, signaling a rebound from recent declines.
The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.6 percent in March, the largest one-month increase since August 2012. Prices for gasoline, which rose 9.1 percent in March, and natural gas were major contributors to the increase. Over the last 12 months the CPI-U has increased 2.6percent. The index for all items less food and energy, referred to as core inflation, increased 0.3 percent in March.