HELENA, Mont. – Montana’s Department of Labor & Industry today released the state’s 2021 Labor Day report, which shows Montana is in the midst of a strong recovery from the 2020 recession and is poised to enjoy robust economic growth in the future.
The report, compiled annually by the Department’s Research & Analysis Bureau, gives a detailed analysis of the state’s economy and examines key indicators of economic strength such as unemployment, GDP, and labor force participation.
“Thanks to the end of COVID-19 mandates and lockdowns, and our pro-growth, pro-job policies, Montana is enjoying one of the strongest economic comebacks in the nation,” said Governor Greg Gianforte. “This report demonstrates the remarkable resiliency of Montana’s workforce and our potential for even greater prosperity in the future.”
Department of Labor & Industry Commissioner Laurie Esau highlighted some of the key indicators in the report:
“Montana posted the 3rd best payroll employment recovery among states since the start of the pandemic recession, and the 8th best recovery in total employment,” said Commissioner Esau. “Montana’s total employment is more than 99.5% recovered from the pandemic, and since January, the number of Montanans receiving unemployment benefits has plummeted by 87%.”
“We also continue to enjoy strong wage growth, growing at 7.9% in 2020, and the fastest personal income gains of any state in the nation. Our unemployment rate has dropped to 3.6%, and in recent months, we’ve seen more and more Montanans return to the labor force,” Esau said.
The full report may be accessed here.
