Montana jobless rate steady at 5.6 percent

Montana's unemployment rate remained at 5.6 percent in March, while the national rate edged down by 0.1 percentage points to 7.6 percent.

In a reverse trend compared to what happened during the heart of the recent recession, the jobless rate in the Hi-Line was higher than it was statewide.

Over-the-year job growth remains positive, but employment growth has slowed both nationally and in Montana, Labor Commissioner Pam Bucy said.

"Last month, Montana was only 2,000 jobs away from regaining its pre-recession payroll employment peak," Bucy said. "This month's numbers reflect a softening of the national economy because of federal efforts to address the national deficit. I remain positive that the Montana economy has sufficient momentum to carry through this soft patch, and I expect to regain our pre-recession employment peak within the next few months."

Payroll employment posted a job loss of 700 jobs over the month, while total employment estimates, which includes payroll workers, the self-employed, and agricultural workers, suggested an employment loss of 532 jobs.

Both data series showed rapid employment growth of over 2 percent in 2012, but total employment losses in the first quarter have eroded some of the earlier job gains.

Federal government spending cuts, increased payroll taxes, and a February spike in gas prices have all contributed to the slowdown in the first quarter, she said.