The Montana 2016 Labor Report

Yesterday, I announced the 2016 Labor Report. This report is compiled annually by the Montana Department of Labor & Industry to provide a detailed look at the economic performance of Montana measured by key indicators such as unemployment and personal income growth.

The report shows Montana’s economy is strong and growing even stronger. More Montanans are on the job and earning higher wages than ever before in our state’s history. Through innovative partnerships across the state, like the Main Street Montana Project, we are equipping the next generation of Montana workers with the knowledge, skills, and experience to succeed and take our economy to new heights.

The 2016 Labor Day Report emphasizes that the state’s economy continues to grow and is positioned to improve over the coming year. You can read the full report HERE, some of the highlights include:

More Montanans are working across the state than ever before;

Montana has the most entrepreneurs and start-up activity per capita;

Montanans are experiencing the highest annual statewide real wage growth since 1990;

Montana’s wage growth is the 6th fastest growing over five years;

Montana’s GDP is the 5th fastest growing over five years;

Montana’s unemployment rate is well below the national average; and

Montana’s personal income growth is the 9th fastest growing over five years.

This year, Montana was again ranked as the most fiscally prudent state in the nation. I have worked hard to keep Montana’s rainy day fund intact, at $300 million, to offset unforeseen emergencies. I have cut taxes on every business in Montana and also eliminated the business equipment tax for two-thirds of all businesses.

There is always more we can do to strengthen our economy and seize new opportunities. I look forward to continuing to help create high paying jobs by responsibly developing our natural and renewable energy resources, addressing the infrastructure needs of all Montana, and strengthening our outdoor economy by protecting our public lands and access to them.

Sincerely,

STEVE BULLOCK
Governor