Montana’s economy is dominated by the primary sector—agriculture, forestry, mining, and energy production—and by services. About one-third of the state’s workforce is employed in the service sector. The outdoor recreation industry has become important, and some high-technology industries have come to the state.
What is Montana’s main source of income?
Payroll wages are the primary source of income for most Montanans, therefore QCEW data is useful for looking at how industries benefit workers. Montana’s industry with the highest average annual wage is Mining, followed by Financial Activities and Construction.
What are the top 3 industries in Montana?
Finally, the largest private industries in terms of employment are health care, trade, and leisure activities. These three industries combined employ nearly 45% of Montana’s workers. Government is also a large employer with roughly 18.8% of employment, most of whom are employed by local governments.
Does Montana have a strong economy?
Montana’s Economy 7th Strongest in Nation With Robust Growth in 2021.
What is the main occupation in Montana?
The highest number of professionals tend to be in the healthcare industry, followed by those in education. Most office jobs tend to be clerical in nature. Sales, restaurant, and transportation industries figure highly in jobs in Montana.
What are the two largest industries in Montana?
Federal and state governments own about half of the 13 million acres of forest land.
- Healthcare. The healthcare industry employs about 68,000 people.
- Manufacturing. Employment opportunities in the manufacturing sector have grown faster than the national average since the Great Recession.
- Transport And Logistics.
What is Montana’s biggest export?
Made-in-America Manufacturing Exports from Montana and Jobs
The state’s largest manufacturing export category is chemicals, which accounted for $311 million of Montana’s total goods exports in 2018.
How much does Montana contribute to the US?
In 2020, Montana generated around $3.7 billion in agricultural cash receipts with the highest valued commodities being cattle and calves, wheat, and hay. That same year, the value of Montana’s agricultural production and processing industries represented 4.9 percent of total state GDP.
What is Montana known for?
Montana is known for:
- Yellowstone National Park.
- Bighorn Mountains.
- Wildlife.
- Sapphires.
- Rich deposits of minerals.
What products is Montana known for?
Montana is known for its open expanses and beautiful wilderness. That natural bounty yields exceptional food, including bison, huckleberries, chokecherries, morels and some of the best beef in the country, along with local favorites worth a detour.
What is the main product of Montana?
Producing a wide range of commodities, wheat and beef top Montana’s list. However, you’ll also find sweet cherries, sugar beets, seed potatoes and hay, to name a few. Montana is a national leader in the production of certified organic wheat, dry peas, lentils and flax, and ranks No.
What is the cost of living in Montana?
Average Cost of Living in Montana: $42,310 per year
According to MERIC data in the third quarter of 2021, Montana ranks 30th when it comes to cost of living. That means Montana is more expensive to live in than half of the country.
Why does Montana have a low unemployment rate?
“Because of Montanans’ hard work, we’re at our lowest unemployment rate ever, and more Montanans are working than ever before,” Governor Greg Gianforte said. “While Montana’s rapid economic growth has lowered our unemployment rate and driven wage growth, a well-skilled workforce has never been more important.
What is minimum wage in the state of Montana?
Montana Minimum Wage for 2021, 2022. Montana’s state minimum wage rate is $9.20 per hour. This is greater than the Federal Minimum Wage of $7.25. You are entitled to be paid the higher state minimum wage.
Is it hard to find work in Montana?
Montana’s unemployment rate is low at 3.9 percent and even lower in Montana’s metro areas, like Missoula at 3 percent and Billings at 3.1 percent. Given these data, it is not surprising that Montana’s employers report they are having a hard time finding skilled workers.
What is a good salary in Montana?
Recommended Salary in Montana
| Annual Salary | Monthly Pay | |
|---|---|---|
| Top Earners | $75,894 | $6,324 |
| 75th Percentile | $59,840 | $4,986 |
| Average | $54,510 | $4,542 |
| 25th Percentile | $36,001 | $3,000 |
What products are manufactured in Montana?
Coal and petroleum are Montana’s leading mined products. The state can also be an important source of gold, silver, copper and lead depending on the demand and labor availability. Montana is the leading producer of talc.
What products are made in Montana?
- Accessories / Jewelry.
- Agriculture & Ranch Supplies.
- Animal / Pet Products.
- Automotive / Cycles / Snowmobile / Boat.
- Beer, Wine, & Spirits.
- Books & Magazines.
- Building Materials.
- Candles.
What are 3 interesting facts about Montana?
The state animal of Montana is the Grizzly Bear. Montana is home to the most number of golden eagles in the United States of America. Butte, a city in Montana, has a rich mining history and is known as the richest hill on Earth. The first national park in the world, Yellowstone National Park is situated in Montana.
What is Montana’s biggest import?
Below are Montana’s top 10 import products highlighting the state’s highest spending on foreign-made goods in 2020.
- Crude petroleum oils: $2.2 billion (55% of Montana’s total imports)
- Miscellaneous platinum scrap: $318 million (8%)
- Urea: $83 million (2.1%)
- Coniferous wood sawn or chipped lengthwise: $78 million (2%)
What resources does Montana have?
Montana’s top natural resources were once copper, gold, silver, and sapphires. People still mine for precious rocks and metals here—but now, the one of the state’s most valuable resources is petroleum. The state is also the world’s leading producer of talc, a mineral used in cosmetics.