Governor Steve Bullock today announced that Montana’s unemployment rate dropped for the fifth straight month, down to 3.6% for the month of August. The U.S. unemployment rate remained unchanged at 3.9%.
“It’s a great time to be a worker in Montana. Household income is growing faster than any state in the country and we lead the nation in middle-class growth,” said Governor Bullock. “Over the last six years we’ve made significant progress in growing opportunities for businesses, employees and communities to grow and thrive and our strong economy reflects that work.”
Payroll employment posted a gain of 700 jobs in August, with 600 of those jobs in the private sector. Total employment, which includes agricultural and self-employed workers in addition to payroll employment, added 400 jobs.
In addition, Governor Bullock shared yesterday that Montana had the fastest growing median household income among states from 2016 to 2017, driven by higher wages and more entrepreneurial activity.
The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.2% in August with price increases in shelter and energy. Gasoline prices increased 3% over the last month. Over the last year, the energy index has increased by 10.2%. The index for all items less food and energy, also called core inflation, increased 0.1% in August, with a change of 2.2% over-the- year.