Montana News

Montana unemployment rate drops to 5.8%

Posted: Dec 21, 2012 11:31 AM by MTN News

The number of people looking for work in the Treasure State dropped again in November, as Montana's unemployment rate fell below 6%, dipping 0.2% to 5.8%, while the national rate also fell 0.2%, to 7.7%.

Keith Kelly, the MT Labor Commissioner, said, "We are finishing 2012 with good economic news for workers during the holiday season. There still is some uncertainty with federal spending levels and the national economic outlook, but Montana's economy has gained momentum this year and our economic prospects for 2013 are strong."

Montana's total employment, which includes payroll workers, the self-employed, and agricultural workers, grew by 522 jobs over the month on a seasonally adjusted basis.

Although payroll employment estimates indicated a 1,300 job decline over the month, these preliminary estimates are fairly volatile, and the three-month trend remains positive.

Meanwhile, the Consumer Price Index for All Urban Consumers (CPI-U) fell by 0.3% in November due to a 7.4% fall in the gasoline index.

The energy index dropped 4.1%, while the food index increased by 0.2%. Continued increases in food prices are expected due to widespread drought this year.