September 2016 Economic Situation Report
Unemployment Rate Steady at 4.3 Percent
HELENA, Mont.–Montana’s unemployment rate remained at 4.3 percent in September. The national unemployment rate increased by 0.1 percentage points up to 5.0 percent.
“Montana’s unemployment rate continues to be in the ideal range, and the state is seeing a growing workforce,” said Montana Labor & Industry Commissioner Pam Bucy. “Unemployment in the ideal range provides an even balance between workers having good job opportunities with increasing wages and businesses able to find the workers they need to produce their products.”
Payroll employment estimates indicate over-the-month job growth of 2,400 jobs, with increases across nearly all sectors and strong gains in the leisure activities industry. Total employment estimates, which include the self-employed and agricultural employment in addition to payroll employment, indicated a smaller over-the-month gain of roughly 100 jobs.
The Consumer Price Index for All Urban Consumers (CPI-U) increased in August by 0.3 percent, led by price increases for gasoline and housing. Over the last twelve months, the CPI-U rose 1.5 percent before seasonal adjustment. Core inflation, measured by the all items less food and energy index, rose 0.1 percent over the month.
** 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 0.3 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 October 2016 will be released on Friday, November 18th.