Montana’s Unemployment Rate Drops Below Five Percent, First Time Since 2008
Montana's unemployment rate has fallen below five percent for the first time in more than five years. Montana Department of Labor and Industry Chief Economist Barbara Wagner said new unemployment numbers for the month of April show a continued trend of dropping unemployment:
"Montana's unemployment rate dropped 4.8 percent for the month of April, and that's a fairly large drop," Wagner said. "The U.S. unemployment rate also did a large drop this past month which is why Montana's rate also dropped. We've been having very strong job growth since the start of the year. Over 10,000 jobs have been added."
The unemployment rate also dropped in the Missoula area.
"Missoula has added about 1,500 jobs over the past year," Wagner said. "The unemployment rate in Missoula County is down to 4.2 percent this month. Last April in 2013, the unemployment rate in Missoula was at 5.4 percent, so we're over a percentage lower than that."
A true practitioner of the dismal science, Wagner says that if the unemployment rate keeps falling, Montana could suffer a worker shortage. Wagner hopes the unemployment rate stays flat for a few years.