HELENA, Mont. – Montana’s private sector payrolls rose by 1,800 jobs in October, led by job gains in the manufacturing, professional and business services, and accommodation and food services industries, according to data from the Montana Department of Labor and Industry (DLI) and the U.S. Bureau of Labor Statistics (BLS).
As in previous months, Montana's labor force growth led to a rise in the unemployment rate to 3.0% in October, still hovering near historic lows in the state. The unemployment rate for the U.S. rose to 3.7%.
“Despite growing economic headwinds coming from the nation's capital, Montana's economy continues to show signs of strength, adding nearly 2,000 jobs in the private sector," said DLI Commissioner Laurie Esau.
Total employment in Montana, which includes payroll, agricultural, and self-employed workers, was mostly unchanged, falling by 257 jobs in October. Like employment, the labor force was also mostly unchanged in October, growing by 232 workers.
In October, the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% over the month, with the increase in the shelter index accounting for over half of the monthly increase. The 12-month change was 7.7%, reflecting a slight easing of price increases compared to September. The index for all items minus food and energy, also called core inflation, increased 0.3% in October.
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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 Market Information report including data from November 2022 will be released on Friday, December 16.
**** INFORMATION AVAILABLE ON THE INTERNET ****
Visit our website at www.lmi.mt.gov for additional information and analysis, including industry employment levels, background on the unemployment rate, and wage rates by occupation. Visit www.lmi.mt.gov/home/job-tracking for Montana unemployment claims and current economic data.
