Montana’s unemployment rate remains below benchmark for 38th straight month

By Medicine Hat News on October 4, 2024.

@MedicineHatNews

Montana’s unemployment rate remained below key benchmark for a 38th consecutive month in August, when the jobless rate was reported at 3.2 per cent, according to that state’s Department of Labor and Industry.

The unemployment rate hasn’t risen above 3.4 per cent since mid-2020, a stretch longer than the 15-consecutive months recorded in 2006 and 207.

The state also recorded the second fastest wage growth among 50 states, including 5 per cent increase in 2023 to an average wage of $57,230.

It is only one of two states to see compensation eclipse inflation over the last four years.

Over the same period, net in-migration was 51,000 people in to the state, marking a 4.7 per cent increase.

At the same time, migration was negative in Hi-Line counties closest to the border with Alberta.

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