Big Sky Times

Under Gov. Gregory Gianforte's leadership, Montana's economy has flourished, with unemployment impressively below 3 percent, a surge in job opportunities and rising wages. The state's remarkable achievements are a testament to its thriving business environment and overall economic prosperity.

“We’re creating an environment where businesses can thrive, create more good-paying jobs, and increase opportunities for all Montanans, and we’re seeing great results,” Gov. Gianforte said, according to a July 21 press release. “Wages in Montana grew at the fifth fastest rate in the nation last year, and we have more Montanans working now than ever before.” 

Montana continues to make waves on the economic front, as Gov. Gianforte proudly announced a series of impressive milestones that underscore the state's remarkable progress. According to the press release, Montana has accomplished an extraordinary feat, recording its 20th consecutive month of unemployment below 3 percent. This achievement was substantiated by data compiled by both the federal Bureau of Labor Statistics and the Montana Department of Labor & Industry, solidifying the state's position as a powerhouse of economic prosperity.

Under the guidance of Gov. Gianforte, Montanans have worked together to create an astonishing 41,000 new jobs, according to the press release. The expansion of the workforce has been nothing short of remarkable, with total employment reaching a record high, adding 784 jobs to the state's economy. Furthermore, the labor force experienced a significant boost of 1,085 workers, further confirming Montana's positive trajectory.

Notably, the state's wages have seen a significant surge, ranking fifth fastest in the nation last year, the press release noted. This surge in wages reflects the growing prosperity and overall well-being of Montana's workforce, as they enjoy improved earning potential and quality of life.

One key aspect of Montana's economic performance has been the impressive unemployment rate, which stood at a mere 2.4% in June. This figure not only reflects the state's commitment to job creation but also underscores its resilience in the face of economic challenges.

The press release also shed light on the state's inflation trends. The Consumer Price Index for All Urban Consumers (CPI-U) experienced a modest 0.2 percent rise over the previous month, mainly attributed to increases in shelter and motor vehicle insurance costs. On a yearly basis, the all-items index demonstrated a 3 percent inflation, while core inflation, excluding food and energy, witnessed a 0.1 percent increase for the month but a significant 4.8 percent increase for the year ending in June. Despite these modest inflation rates, Montana has managed to maintain a strong economic footing.

Gov. Gianforte expressed his enthusiasm regarding the state's accomplishments, stating, "We're creating an environment where businesses can thrive, create more good-paying jobs, and increase opportunities for all Montanans, and we're seeing great results."