|Contact: Casey Kyler-West, Communications Director
|Telephone: (406) 444-1520
||P.O. Box 1728
|Fax: (406) 444-1394
|Barbara Wagner, Economist
|Telephone: (406) 444-5474
FOR IMMEDIATE RELEASE
July 18, 2008
(HELENA) --- UNEMPLOYMENT RATE FALLS TO 4.1%
(HELENA) --- The state seasonally adjusted unemployment rate fell slightly by 0.1% in June to 4.1%. The national unemployment rate stayed steady at 5.5 percent in June.
“The June employment figures indicate that Montana’s economy is continuing to add jobs and may be stabilizing from the impact of high fuel prices and national economic concerns,” says Labor Commissioner Keith Kelly. “It is nice to hear a bit of good economic news, even if this decrease in the unemployment rate is small.”
The total number of Montanans who are working, including agricultural and self-employed workers, increased by 1,759 on a seasonally adjusted basis, which translates into an increase of 6,046 jobs on an unadjusted basis. Seasonally adjusted non-farm payroll employment increased by 2,400 jobs over the month.
The seasonally adjusted consumer price index (CPI-U) posted large increases for the month of June. The CPI-U increased by 1.1 percent between May and June, lead by a 6.6 percent increase in energy prices. The price levels for all items less food and energy, also called core inflation, rose 0.3 percent.
The seasonally adjusted unemployment rate changes for the surrounding states are as follows: a decrease of 0.1% for North Dakota and South Dakota (with rates of 3.2% and 2.8% respectively); an increase of 0.3% to 3.2% for Wyoming; and an increase of 0.2% to 3.8% for Idaho.
*Unemployment figures are seasonally-adjusted. Seasonally-adjusted numbers remove the effects of events that follow a more or less regular month-to-month pattern each year. These adjustments make nonseasonal patterns easier to identify. The margin of error for the unemployment rate is plus or minus 0.8 percentage points at the 90 percent confidence level. All questions relating to the calculation of unemployment rates should be directed to the Montana Department of Labor and Industry’s Research and Analysis Bureau.
The July 2008 Labor Situation Report will be released on Friday, August 15, 2008.
****** INFORMATION AVAILABLE ON THE INTERNET ******
Monthly labor force information for Montana counties is available at: http://www.ourfactsyourfuture.org/cgi/dataanalysis/?PAGEID=94&SUBID=205
Monthly Montana industry employment information is available at: http://www.ourfactsyourfuture.org/cgi/dataanalysis/?PAGEID=94&SUBID=199
Annual labor force data for Indian Reservations in Montana is available at: