by Michael J. Marino
Inflation trends since 2000. (Source: U.S. Bureau of Labor & Statistics)
Recent data revealed 4,215 new jobs were created in Yellowstone County between October 2021 and the present, making the county’s total number of jobs 86,478 as of last month, according to a press release from Montana’s Department of Labor & Industry (DLI). Yellowstone County currently ranks 22nd out of the 56 counties with an unemployment rate of 2.2%. Glacier County is currently trailing the rest of the state with a 5.4% rate of unemployment. The highest unemployment number, 7.4%, was reported in the Northern Cheyenne Reservation area.
Overall, Montana has added 32,000 jobs since 2020 to its workforce. Although the state’s unemployment rate increased to 2.9% – up roughly 0.1% from the last report – it still sits at “record lows,” according to the DLI.
Yellowstone County labor force growth illustrated as a line graph. (Source: MT Department of Labor & Industry)
Despite these gains, inflation and higher cost of living expenses continue to impact people throughout Montana. DLI indicated a 12-month increase of 8.2% to the Consumer Price Index, or CPI, and listed shelter, food and medical care as the main culprits. The U.S. Bureau of Labor and Statistics (BLS) reported that, between September 2021 and the present, gas prices are up 18.2%, food prices went up 11.8%, energy costs grew 19.8%, and airfare prices increased nearly 43%.
For more information and the latest labor market statistics, go online to www.lmi.mt.gov.
