Pyburn: Montana Posts Impressive Numbers on Business, Wages
Montana start-ups are looking strong. And what about wages? Wages in Montana are up nearly 7%.
That's part of what The Big Sky Business Journal's Evelyn Pyburn shared Monday morning after getting her hands on the latest report from the Montana Department of Labor.
She says the numbers, in large part, reflect Montana's no nonsense attitude about remaining open, as other parts of the country turned to lockdowns and heavy-handed restrictions:
Evelyn Pyburn: The rate of new businesses in Montana has skyrocketed to the fastest rate in 10 years, with over 3,500 new businesses created in 2020. So the the worst of the worst year, and we created 3500 new businesses. Montana startups were more successful than the national average.
What about wages? We know the Biden Administration is driving up costs for the average worker- so how are wages doing here in Montana, especially given the increase in housing costs?
Evelyn Pyburn: It's not just the business startups that had a really fantastic year. Wages paid to Montana workers surged, posting an increase of 7.2%, which is $1.7 billion for the year ending in the first quarter of 2021. So it's part of this year's growth, too. And increased wages are really important because they drive future business demand.
Here is the full audio of our chat with Evelyn Pyburn:
You can read the full report for yourself here: attachment-MT Dept Labor Report '21
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