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Duthie, Steve

October 2016 Employment Situation Report

Governor Bullock Announces Montana’s Unemployment Rate Steady at 4.3 Percent in October

Governor Bullock Announces Montana’s Unemployment Rate Steady at 4.3 Percent in October

MONTANA– Governor Steve Bullock today announced Montana’s unemployment rate remained steady at 4.3 percent in October, with payroll employment increasing by 2,200 jobs.  The national unemployment rate decreased by 0.1 percentage points to 4.9 percent. 

Montana’s economy continues to grow and diversify, creating new opportunities for Main Street businesses to expand and hire more hard-working Montanans,” said Governor Bullock. “We must continue to ensure that those businesses have a pipeline of highly-trained, skilled workers to fill the good-paying jobs being created.

Payroll employment estimates indicate over-the-month job growth of 2,200 jobs, with strong gains in the construction and leisure activities industries.  Total employment estimates, which include the self-employed and agricultural employment in addition to payroll employment, indicated an over-the-month gain of roughly 1,200 jobs.

Montana’s economy remains strong,” said Montana Labor & Industry Commissioner Pam Bucy. “Montanans can expect to experience increasing wages and ongoing economic prosperity for themselves and for their families.”

The Consumer Price Index for All Urban Consumers (CPI-U) increased in October by 0.4 percent, led by price increases for gasoline and housing.  The gasoline index increased by a large 7.0% over the month, accounting for the largest portion in the gain in the overall index.  Over the last twelve months, the CPI-U rose 1.6 percent before seasonal adjustment.  Core inflation, measured by the all items less food and energy index, rose 0.1 percent over the month.

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** Statewide 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 nonseasonal 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 and Industry’s Research and Analysis Bureau at 1-800-541-3904.

The next Labor Situation Report for the month of November 2016 will be released on Friday, December 16th.

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