What Does Historically Low Unemployment Mean For Montana?

It's no secret that Montana has been facing near-historic low unemployment numbers.

Last week, Governor Greg Gianforte announced that Montana's unemployment rate was 3.3% in March.

2.4% is the lowest unemployment level Montana has had since recordkeeping began in 1976.

The State reached this number in February 2021.

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"Montana's economy is thriving thanks to our pro-jobs, pro-business policies," Gov. Gianforte said. "While we continue to battle inflation, many businesses are hiring and providing good paying jobs."

Montana's Unemployment Rate

According to the Governor's office, nearly 41,000 jobs have been created in Montana since January 2021.

Montana's unemployment rate of 3.3% remained below the national rate of 3.8% in March.

The total employment in Montana increased by 480 workers, while the labor force fell by about 150 workers.

Payroll employment increased by 1,700 jobs, with the strongest job gains in the healthcare and construction industries.

Record Low Unemployment In Montana

It is a double-edged sword when you start to dig into record-low employment numbers.

Yes, it's great that very few folks are out or working, but on the other side, employers are struggling to find workers.

Take a look at this information from a recent WalletHub report.

This report highlights employers' struggles when unemployment is as low as it is. 

Montana Hiring Struggle

• Job openings rate during the latest month: 6.70%
• Job openings rate in the past 12 months: 6.54%
• Overall rank: 2nd biggest hiring struggle in the country

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