Park County unemployment rate up in March

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Unemployment in Park County increased from 2.9% in February to 3.4% in March, according to figures from the state.

Over the same period, unemployment remained at 2% in Sweet Grass County and changed from 1.8% to 1.9% in Gallatin County and from 2.1% to 2.6% in Meagher County, according to figures from the Montana Department of Labor & Industry.

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About the unemployment figures

Unemployment figures are based on data from surveys and unemployment claims recorded during the monthly reference week, which is usually the week including the 12th day of each month. Statistics are an estimate of persons by place of residence, not jobs or where a person works. In order to be considered unemployed, an individual must have had no employment during the reference week, been available for work, and have made an effort to find employment for four weeks leading up to the reference week.

The Montana unemployment rate is published at the 90 percent confidence interval with an error range of plus or minus .5 percentage points. Given that the reported changes to the unemployment rate are often only 0.1 or 0.2 percentage points, this is a fairly large error range. Unemployment statistics are designed primarily to track changes in the economy, rather than being precise on the level of unemployment. In other words, the statistical model used to calculate the unemployment rate is designed to determine whether unemployment is increasing or decreasing, but it is less accurate in whether the change is large or small. For these reasons, it is important to view the unemployment rate as a part of a historic trend.

*From The Montana Department of Labor & Industry