Montana’s seasonally adjusted unemployment rate decreased by 0.3 percent to 6.4 percent in October. The national unemployment rate increased from 9.8 percent to 10.2 percent, marking the highest national rate since 1983.

“The decrease in this month’s unemployment rate is encouraging news, but it doesn’t tell the whole story,” says Labor Commissioner Keith Kelly. “Montana gained payroll jobs this month, regaining almost all of the losses posted last month and providing further evidence that Montana’s economy has stabilized over the past year. However, we must be cautious of underlying data that reveals some of the decrease was due to unemployed workers becoming discouraged and leaving the labor force, which is not unusual given the length of the national recession.”

Seasonally adjusted, non-agricultural, payroll employment increased by 3,200 jobs in October following a drop in payroll employment in the prior month. The October payroll employment estimate is roughly equal to the estimated employment level in August. The total number of Montanans who are working, including agricultural, payroll and self-employed workers, decreased by 1,572 jobs on a seasonally adjusted basis. The labor force, defined as those who are employed or looking for work, decreased by 2,941. The seasonally adjusted consumer price index (CPI-U) rose 0.3 percent in October. The index for all items less food and energy, also called core inflation, rose 0.2 percent largely due to price increases for new and used vehicles.