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Duthie, Steve

June 2018 Economic Situation Report

Governor Bullock Announces Montana’s Unemployment Rate Falls to 3.8%

FOR IMMEDIATE RELEASE
Friday, July 20, 2018

CONTACTS:
Ronja Abel, Communications Director, Governor’s Office, 444-9725
Marissa Perry, Press Secretary, Governor’s Office, 444-4514
Barbara Wagner, Chief Economist, Department of Labor & Industry, 444-5474

Governor Bullock Announces Montana’s Unemployment Rate Falls to 3.8%

MONTANA – Governor Steve Bullock today announced Montana’s unemployment rate dropped again for the second straight month, down to 3.8% for the month of June. The U.S. unemployment rate rose to 4.0% in June.

“Montana’s economy remains strong as we continue to ensure the future well-being of Montana families,” said Governor Bullock. “The key to this continued economic growth and prosperity is a trained and talented workforce, which we are bolstering through education and workforce initiatives, apprenticeships, and other pathways to good-paying jobs.”

Payroll employment posted a gain of 400 jobs despite a loss of nearly 800 jobs in federal government employment over the month. Retail trade and local government posted the largest over-the-month growth. Total employment levels posted insignificant changes over the last month.

The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.1% in June with broad-based price increases across many goods. Over the last 12 months, inflation has been accelerating, with an increase of 2.9% in the CPI-U. The index for all items less food and energy, also called core inflation, increased 0.2% in June, with a change of 2.3% over the last year. 

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** Unemployment figures are seasonally-adjusted.  Seasonally-adjusted numbers remove the effects of events that follow a more or less regular month-to-month pattern each year. These adjustments make non-seasonal patterns easier to identify. The margin of error for the unemployment rate is plus or minus 0.5 percentage points at the 90 percent confidence level. All questions relating to the calculation of unemployment rates should be directed to the Montana Department of Labor & Industry’s Research and Analysis Bureau at 406-444-4100.

The next Labor Situation Report for the month of July 2018 will be released on Friday, August 17, 2018.

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