Wednesday, November 11, 2026Mortgage news · Rates & market context

Jobs · ORIGINAL ECONOMIC RELEASE

September 2009 Employment Cost Index

Compensation costs for civilian workers increased 0.4 percent, seasonally adjusted, for the 3-month period ending September 2009, the U.S. Bureau of Labor Statistics reported today. Both components of compensation--wages and salaries…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

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Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

Compensation costs for civilian workers increased 0.4 percent, seasonally adjusted, for the 3-month period ending September 2009, the U.S. Bureau of Labor Statistics reported today. Both components of compensation--wages and salaries (which make up about 70 percent of compensation) and benefits (which make up the remaining 30 percent of compensation)-- increased the same amount, 0.4 percent.

Civilian Worker Data

Compensation costs for civilian workers increased 1.5 percent for the 12-month period ending September 2009. This was smaller than the 2.9 percent increase for the 12-month period ending in September 2008. Wages and salaries increased 1.5 percent for the current 12-month period, slowing from a 3.1 percent increase for the 12-month period ending in September 2008. Benefit costs rose 1.6 percent, down from a 2.6 percent increase for the 12-month period ending September 2008.

Private Industry Worker Data

Compensation costs, wages and salaries, and benefit costs decelerated for private industry workers for the 12-month period ending September 2009, registering the smallest increases since each series began, but the differences were not statistically different from last quarter. Compensation costs increased 1.2 percent, the smallest percent change published since the series began in 1980. The wage and salary series, which began in 1975, increased 1.4 percent for the current 12-month period. The cost of benefits, which have been measured since 1980, increased 1.1 percent for the 12-month period ending September 2009. Employer costs for health benefits increased 4.7 percent for the 12-month period ending September 2009. In September 2008, the 12-month percent change was 3.9 percent.

Among occupational groups, compensation cost increases for private industry workers for the 12-month period ending September 2009 ranged from 0.8 percent for sales and office workers to 2.1 percent for service occupations.

Among industries, compensation cost increases for private industry workers for the current 12-month period ranged from 0.7 percent for information to 2.1 percent for education and health services.

Beginning with this release, estimates for selected metropolitan areas, previously published only online, are now incorporated into table 13 of this release.

For detailed information on the Employment Cost Index, see Chapter 8. National Compensation Measures of the BLS Handbook of Methods at: www.bls.gov/opub/hom/pdf/homch8.pdf.

BLS news releases, including the ECI, are available through an e-mail subscription service at: www.bls.gov/bls/list.htm.

Category 3-month, seasonally adjusted 12-month, not seasonally adjusted June 2009 Sep. 2009 Sep. 2008 Dec. 2008 Mar. 2009 June 2009 Sep. 2009 CIVILIAN WORKERS(1)

PRIVATE INDUSTRY

STATE AND LOCAL GOVERNMENT

(1) Includes private industry and state and local government. (2) Includes wages and salaries and benefits.

Source: U.S. Bureau of Labor Statistics · Original release Oct 30, 2009.

Archived Nov 11, 2026. Source reuse policy. Formatting has been adapted for reading; the source’s conclusions remain attributed to its publisher.

MortgageRates.news analysis · Historical context

The mortgage market around this release

This original analysis is separate from the source article. It compares observed benchmarks around ; historical averages and yields are not current mortgage offers.

Read compensation costs separately from job growth

The Employment Cost Index tracks changes in employers’ hourly compensation costs, including wages, salaries and benefits. Its fixed employment weights limit the effect of shifts between industries and occupations; it does not count newly created jobs. Compare wage and benefit components, and check whether the quoted change is for three months or twelve months and whether it is seasonally adjusted. Compensation trends are one part of the inflation and policy picture, without determining a particular mortgage rate. BLS Employment Cost Index.

Nearest published observation on or before each target date
Benchmark30 days earlierSep 30, 2009Publication referenceOct 30, 200930 days laterNov 29, 2009
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®5.04%Observed 5.03%Observed −1 bps vs. earlier reference4.78%Observed −25 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the TreasuryUnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.

Calendar references, not an intraday reaction. A same-day market observation may have been published after a morning release. These figures do not show what was known at its exact publication time. One basis point (bp) is 0.01 percentage point; changes use the actual dated observations shown.

Six months around publication

Jul 30, 2009 – Jan 30, 2010
Historical mortgage and Treasury observations around Oct 30, 2009Each dot is a published observation. No missing values are estimated. The dashed vertical line marks the article’s publication calendar date. Rates and yields are percentages.4.50%5.00%5.50%Publication date30-year fixed mortgage: 5.25% · Jul 30, 200930-year fixed mortgage: 5.22% · Aug 6, 200930-year fixed mortgage: 5.29% · Aug 13, 200930-year fixed mortgage: 5.12% · Aug 20, 200930-year fixed mortgage: 5.14% · Aug 27, 200930-year fixed mortgage: 5.08% · Sep 3, 200930-year fixed mortgage: 5.07% · Sep 10, 200930-year fixed mortgage: 5.04% · Sep 17, 200930-year fixed mortgage: 5.04% · Sep 24, 200930-year fixed mortgage: 4.94% · Oct 1, 200930-year fixed mortgage: 4.87% · Oct 8, 200930-year fixed mortgage: 4.92% · Oct 15, 200930-year fixed mortgage: 5.00% · Oct 22, 200930-year fixed mortgage: 5.03% · Oct 29, 200930-year fixed mortgage: 4.98% · Nov 5, 200930-year fixed mortgage: 4.91% · Nov 12, 200930-year fixed mortgage: 4.83% · Nov 19, 200930-year fixed mortgage: 4.78% · Nov 25, 200930-year fixed mortgage: 4.71% · Dec 3, 200930-year fixed mortgage: 4.81% · Dec 10, 200930-year fixed mortgage: 4.94% · Dec 17, 200930-year fixed mortgage: 5.05% · Dec 24, 200930-year fixed mortgage: 5.14% · Dec 31, 200930-year fixed mortgage: 5.09% · Jan 7, 201030-year fixed mortgage: 5.06% · Jan 14, 201030-year fixed mortgage: 4.99% · Jan 21, 201030-year fixed mortgage: 4.98% · Jan 28, 2010Jul 30, 2009Oct 30, 2009Jan 30, 2010
30-year fixed mortgage27 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The series have different publication schedules and measure different markets.

What that benchmark difference would mean for a $300,000 loan

At the publication reference$1,615.97/month

5.03% · Oct 29, 2009

At the later reference$1,570.37/month

4.78% · Nov 25, 2009

The illustrative principal-and-interest payment is $45.60 lower per month. This holds the loan amount and term constant to show the arithmetic effect of the benchmark difference.

Assumptions: two separate hypothetical $300,000 loans, each fully amortizing over 30 years with 360 monthly payments and its stated fixed interest rate. Excludes points, lender fees, taxes, insurance, association charges and other costs. PMMS is a national average, not an APR or a personalized rate offer. These are not two payments on one existing loan.

Sources, historical coverage and calculation limits

The 30-day comparisons use calendar days. Each cell selects the last published observation on or before its target; no rates are synthesized for missing dates. Gaps greater than seven days for daily Treasury data or fourteen days for weekly mortgage data are marked unavailable. Forward comparisons require the date to have arrived and source coverage to extend through it.

Historical files may contain revisions and do not reconstruct precisely what every market participant knew at the time. Freddie Mac changed its PMMS collection methodology in November 2022. Cross-period comparisons should account for that change. These windows include other news and cannot establish causation or forecast the next rate move.

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