Montana unemployment falls to record low 2.3% in March
Meesha Morris, bottom left, and Cain Hartz, bottom right, with Leader Creek Fisheries, speak to a group of Flathead High School juniors and seniors at the Northwest Montana Job and Opportunity Fair at the Flathead County Fairgrounds Trade Center building on Thursday, April 14. (Casey Kreider/Daily Inter Lake)
HELENA (AP) — Montana's seasonally adjusted unemployment rate dipped 0.3 percentage points in March to 2.3% as it continued to hit new record lows, Gov. Greg Gianforte said Friday.
The number of unemployed people in the state fell to 13,106 — a decline of 1,162 people from February.
Montana's unemployment rate in recent months has been the lowest since records started being kept in 1976.
“Because of Montanans’ hard work, we’re at our lowest unemployment rate ever, and more Montanans are working than ever before,” Gianforte said in a press release. “While Montana’s rapid economic growth has lowered our unemployment rate and driven wage growth, a well-skilled workforce has never been more important. We’ll keep working with Montana’s employers to bring new people into the workforce and make sure they get the training and skills they need to succeed, thrive, and prosper.”
Also in March, the state's total employment hit a new high — 545,360 workers. That's up by more than 3,200 workers compared to February.
The U.S. unemployment rate was 3.6% in March, down 0.2 percentage points from February's rate.
Inflation has risen 8.5% over the past 12 months, a 40-year high. That's driven prices sharply higher for purchases including gasoline, airfare, used cars and trucks and fuel oil.