The unemployment rate is at an all-time low for the nation. But this situation creates a double-edged sword when it comes to finding good employees.
Currently in Montana, we have a 4% unemployment rate.
"More Montanans have jobs than ever before in our state's history and the middle-class in Montana is growing faster than every other state in the nation," says Governor Steve Bullock.
While this is definitely a great thing, it also comes with a downside.
Believe it or not, from an economic standpoint, there is a healthy balance between the employed and unemployed.
"Typically speaking, whenever the unemployment rate is below 5 percent, economists tell us that, that means employers are going to have a hard time finding what they say are ‘good people’," says Dave Ketelhohn, a local workforce consultant.
During these types of circumstances, it’s advised business’ seek the guidance of outside resources such as a workforce consultant or a job service office.
These offices can help guide you toward helpful programs and make the right connections for your business.
The next labor report will be released on Friday, June 15.