GREAT FALLS — It has been five years since the onset of the global COVID pandemic, which threw the economy into chaos and saw unemployment in Great Falls soar to a staggering 12 percent — the highest in decades. However, recent data from the Montana Department of Labor & Industry indicates that the local economy has largely rebounded, with unemployment rates now below the national average.
Owen Skornik-Hayes reports - watch:
From December 2023 to December 2024, the unemployment rate in Great Falls fell significantly from 3.9% to 2.8%, while Montana's rate dropped from 3.8 to 3%. In contrast, the national average has risen slightly from 3.5% to 3.8%.
This positive trend has been fueled in part by an influx of out-of-state migrants relocating to the area.
The office of Montana Secretary of State Christi Jacobsen says it registered a record 63,814 businesses in Montana in 2024. So far in 2025, over 6,000 business registrations. This is aided by the cutting of cost to register a new business in the state, along with the elimination of several fees and the annulment of the annual report filing fee.
Michael Hopkins, Bureau Chief of Job Service Montana, remarked, “At some point, folks are going to continue to move out further towards the center of Montana and towards the east.”
Job Service is currently listing more than 500 job openings within a 25-mile radius of Great Falls.
Despite these opportunities, the city has not experienced the same population growth seen in other parts of Montana.
Hopkins addressed hiring within a stagnant population.“Even with stagnating population numbers in an area, advancements in technology allow businesses to operate efficiently with smaller staffs,” he said.
This trend enables companies to maintain productivity despite facing a limited labor pool.
Echoing this sentiment, Jorge Busso, executive chef at the recently-opened Station District Bar & Eatery, stated, “I’m a big fan of the old adage that less is more. So finding more qualified individuals allows us to do more with fewer bodies, rather than just filling each station for the sake of having a warm body.”
Despite a negligible population change of 0.05% in Great Falls over the past five years, business growth continues to trend upward.
Looking ahead, the Department of Labor & Industry projects that Montana will add approximately 5,530 jobs annually through 2031, although North Central Montana is expected to see only a modest increase of 60 jobs per year — the second-lowest regional forecast in the state, ahead of only Eastern Montana, which is projected to add 10 jobs annually.
Business growth is likely to slightly outpace population numbers, which are expected to remain around 60,000 in Great Falls the next four years.
Job opportunities across Montana are projected to average 67,800 annual openings through 2031.
A floor manager at Station District, who declined to be on camera, acknowledged the challenges in hiring, stating that the limited pool of candidates has made recruitment difficult.
This issue underscores the growing disparity in the labor market, particularly as many Montanans approach retirement.
As Great Falls continues to navigate the economic recovery from the pandemic, ongoing discussions about workforce development and population stability will be critical to the community's future.
