Metro Job Market Pulse · General Market Conditions · October 2026
General Market Conditions Labor Market Report: Billings, MT MSA — October 2026
Billings holds 3.1% jobless rate as Montana payrolls shrink statewide.
Yellowstone County unemployment sits at a tight 3.1% even as Montana lost 5,300 jobs statewide over the past year — its first annual decline since 2020 — while local wages rose 3.3% to $1,355 weekly.
Free archive edition. Published by WageScape as sent to subscribers; data as of October 2026.
Key indicators
- Yellowstone County unemployment: 3.1% — August 2026, down 0.2 pts year-over-year
- Montana annual job change: -5,300 jobs — First annual decline since 2020
- Yellowstone avg. weekly wage: $1,355 — Up 3.3% y/y, Q4 2025
- Montana labor force participation: 62.6% — Down from 63.1% a year ago
Key takeaways
Montana's first job decline since 2020 complicates the low-unemployment story.
Statewide payrolls fell 5,300 over the year even as unemployment sits at 3.1-3.2% in Yellowstone County, a combination consistent with employers holding headcount flat. Commerce leaders citing low unemployment as a growth signal should pair it with this payroll context.
Wage growth is outrunning job creation across the metro.
Yellowstone County average weekly wages rose 3.3% year-over-year to $1,355 while county employment grew just 0.8% in 2025, a pattern that looks like wage pressure from a static labor pool. This dynamic shapes how local businesses should read advertised pay data as a cost signal more than a growth signal.
Housing costs are quietly offsetting Montana's nation-leading wage gains.
Montana ranked first nationally for wage growth in 2025 at 5.4% against a 3.4% national rate, yet persistent housing cost pressure is eroding the real purchasing-power benefit for local households. Consumer spending capacity is the more relevant gauge of local business climate strength this quarter.
Healthcare and tech job ads diverge sharply from manufacturing softness.
Statewide healthcare employment grew 5.4% and information/tech jobs grew 28% in 2025, while manufacturing contracted 2.8%, and Billings' own Manufacturing Production Worker advertised pay fell moderately to $39,520. These figures reflect job ads, a signal of hiring demand (one ad often covers several openings), and sector-level divergence this wide suggests economic development targeting should differentiate by sector.
Median advertised pay by role — Billings, MT MSA
| Role | 25th percentile | Median advertised pay | 75th percentile | Metro trend | National median |
|---|---|---|---|---|---|
| Retail Sales Associate | $27,782 | $33,280 | $36,447 | Moderate increase | $33,340 |
| Retail Cashier | $26,032 | $30,333 | $32,067 | Stable | $31,268 |
| Warehouse/Fulfillment Associate | $34,136 | $37,465 | $41,384 | Stable | $38,480 |
| CDL Truck Driver | $57,121 | $82,725 | $92,038 | Moderate increase | $78,872 |
| Delivery Driver | $32,350 | $36,400 | $43,644 | Significant decline | $34,826 |
| Construction Laborer | $34,320 | $40,560 | $43,680 | Moderate decline | $40,727 |
| Electrician | $67,600 | $89,356 | $111,280 | Significant increase | $71,835 |
| Manufacturing Production Worker/Assembler | $35,638 | $39,520 | $45,760 | Moderate decline | $39,520 |
| Customer Service Representative | $34,270 | $38,487 | $41,600 | Stable | $39,520 |
| Food Service Worker | $29,968 | $34,320 | $36,400 | Moderate increase | $33,764 |
| Certified Nursing Assistant / Home Health Aide | $39,936 | $47,840 | $51,376 | Moderate increase | $41,600 |
| Administrative Assistant/Office Clerk | $36,113 | $42,877 | $45,240 | Stable | $44,552 |
| HVAC Technician | $67,910 | $77,500 | $79,341 | Moderate increase | $71,406 |
| Registered Nurse | $91,209 | $109,642 | $116,547 | Significant increase | $102,252 |
| Software Engineer | $88,215 | $147,521 | $168,171 | Stable | $154,403 |
| Data Engineer | $86,610 | $113,425 | $123,437 | Significant decline | $138,000 |
| Accountant | $51,120 | $60,000 | $66,663 | Moderate decline | $72,000 |
| Financial Analyst | $74,914 | $80,580 | $82,988 | Stable | $94,646 |
| HR Generalist/Manager | $48,000 | $77,500 | $78,612 | Significant increase | $74,477 |
| Marketing Specialist * | $43,369 | $57,507 | $70,608 | Stable | $62,916 |
| Operations Manager | $59,300 | $96,224 | $100,110 | Significant increase | $86,294 |
| Elementary/Secondary School Teacher | $31,200 | $41,600 | $52,707 | Significant decline | $55,908 |
| Account Manager | $66,759 | $104,095 | $115,215 | Significant increase | $94,009 |
| Warehouse Manager * | $52,815 | $65,501 | $70,938 | Significant increase | $75,000 |
| Business Analyst | $70,545 | $88,303 | $93,950 | Significant decline | $98,302 |
* State-level figure shown where metro postings were too few.
WageScape's median is calibrated to correct for spurious low-value postings (reported as the 60th percentile of raw advertised pay). Download: CSV · JSON
Industry snapshot
| Sector | Median advertised pay | Pay trend | Postings trend |
|---|---|---|---|
| Construction | $61,459 | Significant increase | Significant increase |
| Manufacturing | $65,814 | Significant increase | Significant increase |
| Retail Trade | $37,966 | Stable | Significant increase |
| Transportation, Warehousing & Utilities | $65,138 | Significant increase | Significant increase |
| Information | $65,332 | Significant increase | Significant increase |
| Financial Activities | $55,000 | Moderate decline | Significant increase |
| Professional & Business Services | $87,720 | Significant increase | Significant increase |
| Education & Health Services | $66,940 | Significant increase | Significant increase |
| Leisure & Hospitality | $32,484 | Stable | Significant increase |
| Government | $67,639 | Moderate increase | Significant increase |
Local market conditions
Yellowstone County unemployment held at a tight 3.1% in August, even as statewide payrolls contracted by 5,300 jobs over the past year — the first annual Montana employment decline since 2020 — pointing to a labor market where low joblessness coexists with flat hiring activity. Local wage growth (3.3% year-over-year to $1,355 weekly) continues to outpace the county's 0.8% job growth, consistent with employers paying more for a workforce that is holding steady in size.
What it means
Flat employment alongside firm wage growth suggests Billings-area businesses face a holding-pattern economy: labor is available but not accumulating, and expansion plans should weigh housing costs and participation trends as much as advertised pay levels. Commerce and economic development leaders evaluating business-attraction or expansion incentives should treat Yellowstone County's 0.8% job growth — one of only four Montana urban counties still posting gains — as a sign of relative resilience, with momentum still to be confirmed. Current conditions suggest monitoring whether healthcare and information-sector strength (statewide healthcare +5.4%, tech +28%) is translating into measurable Billings payroll additions before assuming broad-based local expansion is underway.
Looking ahead
Expected data release: BLS and Montana Department of Labor are scheduled to publish October state and metro-level figures on November 20; this will be the first direct read on whether Yellowstone County's job growth held through fall or began tracking the statewide decline.
Emerging pressure point: Montana's labor-force participation rate slipped to 62.6% from 63.1% a year ago, a signal worth watching locally for whether Billings residents are exiting the workforce or simply not being counted as job growth flattens.
Worth watching: Montana's minimum wage rises to $11.20 on January 1, 2027, a cost input for retail, food service and hospitality employers already showing advertised pay softness in roles like Delivery Driver (down significantly) and Construction Laborer.
Early indicator: National healthcare hiring strength (physicians, surgeons, therapists topping demand) and Montana's 5.4% healthcare sector growth suggest Billings' hospital and clinical employers warrant tracking as a leading indicator of whether the metro's job growth broadens beyond its current narrow base.
Sources
- USA Facts / Bureau of Labor Statistics — Yellowstone County unemployment at 3.1% in August 2026
- Missoula Current / MATR — Montana lost 5,300 jobs over the past year, first decline since 2020
- Bureau of Labor Statistics — Yellowstone County average weekly wage rose 3.3% to $1,355 in Q4 2025
- Bureau of Business and Economic Research — Montana ranked first nationally for wage growth in 2025 at 5.4%
- Bureau of Labor Statistics — Montana labor force participation fell to 62.6% from 63.1% year-ago
- Montana Department of Labor and Industry — Montana minimum wage rises to $11.20 effective January 1, 2027
Methodology
Advertised pay from active employer job postings, not survey data. WageScape's median is calibrated to correct for spurious low-value postings: distribution analysis shows roughly the lowest 10% of raw values are erroneous entries, so the reported median is the 60th percentile of raw advertised pay. WageScape observes 98% of U.S. job openings daily.
Free to read and cite with attribution to WageScape. Terms of use.