Unemployment, inflation ticks up in Montana

(Missoula Current) Montana's unemployment rate ticked up to 3.3 percent in November while core inflation rose 2.6 percent over the last 12 months, the state announced this week.

While the state's rate of unemployment rose, it continued its streak of more than four consecutive years at or below 3.4 percent. The unemployment rate in Missoula County stood at 3.1 percent while Ravalli County recorded a rate of 3.7 percent.

Gov. Greg Gianforte praised the latest figures.

“Through 406 JOBS, we’ve established a unifying framework to unlock the full potential of our workforce to ensure all Montanans have access to a plan and pathway to work,” he said in a statement. “Whether in a career, college, or military, the state is equipped more than ever before to strengthen our workforce and prepare the next generation to meet the needs of our job creators.”

The state's labor force added roughly 2,200 workers over the last two months, while total employment increased by nearly 800.

But the rising cost of goods and services crept into the latest figures. The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent while core inflation – the index for all items less food and energy – rose 2.6 percent.

The food index also increased 2.6 percent over the last year while the energy index increased 4.2 percent over the same period.