Governor Bullock Announces Montana's Unemployment Rate Drops to 6.4% in July

Statement

Governor Steve Bullock today announced Montana's unemployment rate decreased for the third straight month, dropping by 0.8 percentage points to 6.4% in July. Montana's unemployment rate is 3.8 percentage points below the national rate of 10.2% for July.

"More Montanans are returning to work and we're continuing to provide relief to those who need it most by supporting key industries and businesses to ensure the state stays on the path toward economic recovery," Governor Bullock said. "While Montana has the sixth lowest unemployment rate in the country due to its early efforts, this public health emergency is far from over and we must continue to prioritize the health and safety of all Montanans to ensure our economy stays on the right track."

Montana's total employment growth from July 2019 to July 2020 ranks 7th among states. In July, total employment, including both payroll workers and the self-employed, increased by 3,700 compared to June. Since April, 42,000 jobs have been added, bringing total employment to 18,000 jobs below the pre-COVID-19 recession peak.

Payroll employment increased by 3,000 jobs in July. By industry, leisure and hospitality had the largest gain in employment with 1,400 jobs, followed by education and health services with 900 jobs. Montana has added roughly 36,000 payroll jobs compared to the height of the pandemic in April.

Prices increased by the same amount in July as in June with the Consumer Price Index for All Urban Consumers (CPI-U) increasing by 0.6%. Nearly a quarter of the increase in prices is due to increased gasoline prices, while the index for food at home decreased by 1.1%. The index for all items less food and energy, also called core inflation, rose by 0.6%, its largest increase since January 1991.

Source