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Duthie, Steve

October 2018 Economic Situation Report

Governor Bullock Announces Montana’s Unemployment Rate at 3.7%

FOR IMMEDIATE RELEASE:
Friday, November 16, 2018

CONTACTS:
Ronja Abel, Communications Director, Governor’s Office, 444-9725
Marissa Perry, Press Secretary, Governor’s Office, (406) 444-4514
Erin Loranger, Public Information Officer, Department of Labor & Industry, 444-1674
Barbara Wagner, Chief Economist, Department of Labor & Industry, 444-5474

Governor Bullock Announces Montana’s Unemployment Rate at 3.7%

MONTANA – Governor Steve Bullock today announced that Montana’s unemployment rate is at 3.7%, ticking up slightly for the month of November, despite the state gaining roughly 800 jobs over the month, and placing the rate at the same level it was at in July and August. The U.S. unemployment rate was unchanged at 3.7%.

“As unemployment remains low, Montanans continue to experience the benefits of our strong economy,” Governor Bullock said. “I will continue to support our state’s economy and invest in our workforce by providing worker training and a world-class education so that every Montanan has the opportunity to contribute to our ongoing success.”

Total employment, which includes payroll, agricultural, and self-employed workers, indicated an increase of 830 jobs in October. Payroll employment posted a gain of 500 jobs, with job gains of 900 in the private sector and job losses of 400 in the public sector. The job losses in government came from state and local government. Private industry job gains were posted across most industries, but with small job losses in construction for the month. The construction industry has been among the fastest growing industries for jobs for most of the year; however, construction often posts seasonal job declines in the 4th quarter. 

The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.3% in October due to price increases across most goods. The index for all items less food and energy, also called core inflation, increased 0.2% in October, with a change of 2.1% over-the- 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 November 2018 will be released on Friday, December 21, 2018.

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