10 years of continued economic growth in Montana

I am pleased to present to you the 2019 Montana Labor Day Report.

As we present this report to Montanans, we mark the longest economic expansion in recorded U.S. history – a decade since the recession ended in June 2009.

This long period of growth has made a meaningful difference to Montana families who have experienced wage growth, a strong entrepreneurial climate, and a wealth of opportunities to continue their education or workforce training.

We will continue to forge pathways for current and future workers to meet the demand for jobs and ensure continued economic prosperity.

Our economy isn’t about just a few individuals. It’s about the Montanans all across the state who come together and share a commitment to making our state what it is.

It’s about the nurses who work day and night to care for Montanans in need.

It’s about the construction workers who ensure we have safe infrastructure for learning and living.

It’s about the farmers and ranchers who do hands-on labor to feed the world.

It’s about the teachers and professors who know that the most important thing we can do for our economy is to invest in the workforce of the future.

It is indeed the working people of all sectors across Montana who helped lead us out of the recession a decade ago and into economic prosperity.

On the heels of Labor Day, I’m pleased to share with you these highlights from the 2019 Montana Labor Day Report:

• 46,000 jobs have been added to Montana’s economy since the end of the last recession and 5,000 jobs were added over the last year.
• $6.3 billion in real Gross Domestic Product and $11.6 billion in personal income over the past decade. $400 million expansion of Montana’s real GDP from 2017 to 2018.

• $2.3 billion in personal income from 2017 to 2018 ranking Montana 9th among states.
• 6th fastest growth in average annual wages among states from 2008 to 2018 amounting to over $10,000. Over the last year, wage growth accelerated, increasing by 3.2%.
• 1st in the nation for median household income growth from 2016 to 2017, increasing by 6.7%, nearly two and a half times the national average.
• 14th among states for business startups in 2018. Montana continues to be a national leader for entrepreneurialism, with the highest rate of business ownership among households in the nation.
• 3rd in the nation for the percent of the population over 25 years of age with a high school diploma or equivalency. Roughly 65% of Montana’s population has some post-secondary education.

Real money is going to Montanans’ pocketbooks, helping them be better off financially.

Women are also benefitting from our economy. Since I formed the Equal Pay for Equal Work Task Force in 2013, women’s earnings have increased by roughly 2.6% annually. This increase in median earnings for full-time, year-round working Montana women is the 5th fastest in the nation.

Montana’s economy holds so many incredible opportunities – but we know there are challenges before us.

With an aging workforce, we must ensure we have trained and talented workers to take the reins in industries all across the state.

This report highlights the programs and initiatives Montana is doing to incentivize apprenticeships and encourage employers to offer work-based learning opportunities, so students can learn while earning a paycheck.

In 2013, the Montana Registered Apprenticeship program had 424 new apprenticeships. In 2018, that number more than doubled to 857 new apprenticeships. We also added training in 18 new occupations alone in 2018, including in high-demand fields such as emergency medical technicians, information technology managers, and more.

Nearly 90% of apprentice graduates work in Montana – making apprenticeships one of the best tools to retain good workers in our state.

As former chair of National Governors Association, I also released my Good Jobs for All Americans guide to help workers adapt to a rapidly changing workforce. This guide will serve as a model for governors addressing workforce challenges for decades to come.

The most important thing we can do, however, is invest in our future leaders.

An educated, skilled workforce is what will ensure that Montana remains the best in the nation to find a career, work, and live.

And, efforts to upskill workers are being done through our “Become an Alum” pilot program which assists Montanans who would like to return to school to complete a degree. This pilot program has already contacted 3,000 former students and the first re-enrollees have already started classes this fall.

From apprenticeships to dual enrollment to our “Become an Alum” program, we are making investments to create an economy where opportunity is available for all those who contribute to our workforce.

Montana’s economy is strong on Labor Day 2019 and it will continue to be strong because of folks like you all across the state committed to building an economy that works for everyone.

Sincerely,

STEVE BULLOCK
Governor