Montana has seen a strong and quick rebound from the economic impacts of the COVID crisis, according to a recent mid-year report sponsored by the Montana Chamber of Commerce. Head of the UM Bureau of Business and Economic Research Dr. Patrick Barkey reported that the COVID-19 pandemic brought down predicted growth in personal income and gross domestic product, but that both recovered better than expected this year. He also noted the disproportionate amount of women who were laid off accounted for more than 50% of unemployment claims. He added it appears to be “harder for them to get back into the economy.”
Mike Follet, the Executive Vice President of the Medical Division of Zoot Enterprises based out of Bozeman, attended the Economic Update. He noted another area of Montana’s economy to be aware of going forward.