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

Jobs · ORIGINAL ECONOMIC RELEASE

June 2020 Employment Cost Index

Compensation costs for civilian workers increased 0.5 percent, seasonally adjusted, for the 3-month period ending in June 2020, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.4 percent and benefit…

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 0.5 percent, seasonally adjusted, for the 3-month period ending in June 2020, the U.S. Bureau of Labor Statistics reported today. Wages and salaries increased 0.4 percent and benefit costs increased 0.8 percent from March 2020. (See tables A, 1, 2, and 3.)

Compensation costs for civilian workers increased 2.7 percent for the 12-month period ending in June 2020 and also increased 2.7 percent in June 2019. Wages and salaries increased 2.9 percent over the year and also increased 2.9 percent for the 12-month period ending in June 2019. Benefit costs increased 2.2 percent for the 12-month period ending in June 2020. In June 2019, the increase was 2.3 percent. (See tables A, 4, 8, and 12.)

Compensation costs for private industry workers increased 2.7 percent over the year. In June 2019, the increase was 2.6 percent. Wages and salaries increased 2.9 percent for the 12-month period ending in June 2020 and increased 3.0 percent in June 2019. The cost of benefits rose 2.0 percent for the 12-month period ending in June 2020 and increased 1.8 percent in June 2019. (See tables A, 5, 9, and 12.)

Employer costs for health benefits increased 1.9 percent for the 12-month period ending in June 2020. (For further information, see www.bls.gov/web/eci/echealth.pdf.)

Among private industry occupational groups, compensation cost increases for the 12-month period ending in June 2020 ranged from 2.1 percent for management, professional, and related occupations to 3.4 percent for service occupations. Within industry supersectors, compensation cost increases ranged from 1.9 percent for education and health services to 3.6 percent for leisure and hospitality. (See table 5.)

Compensation costs for state and local government workers increased 2.7 percent for the 12-month period ending in June 2020, compared with an increase of 3.0 percent in June 2019. Wages and salaries increased 2.6 percent for the 12-month period ending in June 2020 and 2.5 percent a year ago. Benefit costs increased 3.1 percent for the 12-month period ending in June 2020. The prior year increase was 3.6 percent. (See tables A, 7, 11, and 12.)

Coronavirus (COVID-19) Pandemic Impact on June 2020 Employment Cost Index The Employment Cost Index (ECI) reference date was June 12, 2020. Response rates for June were comparable with prior releases, and no changes in estimation procedures were necessary. Additional information is available at www.bls.gov/bls/effects-of-covid-19-on-workplace- injuries-and-illnesses-compensation-and-occupational-requirements.htm#ECI.

Source: U.S. Bureau of Labor Statistics · Original release Jul 31, 2020.

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 earlierJul 1, 2020Publication referenceJul 31, 202030 days laterAug 30, 2020
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.13%Observed 2.99%Observed −14 bps vs. earlier reference2.91%Observed −8 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury0.69%Observed 0.55%Observed −14 bps vs. earlier reference0.74%Observed +19 bps vs. publication reference

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

Apr 30, 2020 – Oct 31, 2020
Historical mortgage and Treasury observations around Jul 31, 2020Each 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.0.50%2.00%3.50%Publication date30-year fixed mortgage: 3.23% · Apr 30, 202030-year fixed mortgage: 3.26% · May 7, 202030-year fixed mortgage: 3.28% · May 14, 202030-year fixed mortgage: 3.24% · May 21, 202030-year fixed mortgage: 3.15% · May 28, 202030-year fixed mortgage: 3.18% · Jun 4, 202030-year fixed mortgage: 3.21% · Jun 11, 202030-year fixed mortgage: 3.13% · Jun 18, 202030-year fixed mortgage: 3.13% · Jun 25, 202030-year fixed mortgage: 3.07% · Jul 2, 202030-year fixed mortgage: 3.03% · Jul 9, 202030-year fixed mortgage: 2.98% · Jul 16, 202030-year fixed mortgage: 3.01% · Jul 23, 202030-year fixed mortgage: 2.99% · Jul 30, 202030-year fixed mortgage: 2.88% · Aug 6, 202030-year fixed mortgage: 2.96% · Aug 13, 202030-year fixed mortgage: 2.99% · Aug 20, 202030-year fixed mortgage: 2.91% · Aug 27, 202030-year fixed mortgage: 2.93% · Sep 3, 202030-year fixed mortgage: 2.86% · Sep 10, 202030-year fixed mortgage: 2.87% · Sep 17, 202030-year fixed mortgage: 2.90% · Sep 24, 202030-year fixed mortgage: 2.88% · Oct 1, 202030-year fixed mortgage: 2.87% · Oct 8, 202030-year fixed mortgage: 2.81% · Oct 15, 202030-year fixed mortgage: 2.80% · Oct 22, 202030-year fixed mortgage: 2.81% · Oct 29, 202010-year Treasury: 0.64% · Apr 30, 202010-year Treasury: 0.64% · May 1, 202010-year Treasury: 0.64% · May 4, 202010-year Treasury: 0.66% · May 5, 202010-year Treasury: 0.72% · May 6, 202010-year Treasury: 0.63% · May 7, 202010-year Treasury: 0.69% · May 8, 202010-year Treasury: 0.73% · May 11, 202010-year Treasury: 0.69% · May 12, 202010-year Treasury: 0.64% · May 13, 202010-year Treasury: 0.63% · May 14, 202010-year Treasury: 0.64% · May 15, 202010-year Treasury: 0.73% · May 18, 202010-year Treasury: 0.70% · May 19, 202010-year Treasury: 0.68% · May 20, 202010-year Treasury: 0.68% · May 21, 202010-year Treasury: 0.66% · May 22, 202010-year Treasury: 0.69% · May 26, 202010-year Treasury: 0.68% · May 27, 202010-year Treasury: 0.70% · May 28, 202010-year Treasury: 0.65% · May 29, 202010-year Treasury: 0.66% · Jun 1, 202010-year Treasury: 0.68% · Jun 2, 202010-year Treasury: 0.77% · Jun 3, 202010-year Treasury: 0.82% · Jun 4, 202010-year Treasury: 0.91% · Jun 5, 202010-year Treasury: 0.88% · Jun 8, 202010-year Treasury: 0.84% · Jun 9, 202010-year Treasury: 0.75% · Jun 10, 202010-year Treasury: 0.66% · Jun 11, 202010-year Treasury: 0.71% · Jun 12, 202010-year Treasury: 0.71% · Jun 15, 202010-year Treasury: 0.75% · Jun 16, 202010-year Treasury: 0.74% · Jun 17, 202010-year Treasury: 0.71% · Jun 18, 202010-year Treasury: 0.70% · Jun 19, 202010-year Treasury: 0.71% · Jun 22, 202010-year Treasury: 0.72% · Jun 23, 202010-year Treasury: 0.69% · Jun 24, 202010-year Treasury: 0.68% · Jun 25, 202010-year Treasury: 0.64% · Jun 26, 202010-year Treasury: 0.64% · Jun 29, 202010-year Treasury: 0.66% · Jun 30, 202010-year Treasury: 0.69% · Jul 1, 202010-year Treasury: 0.68% · Jul 2, 202010-year Treasury: 0.69% · Jul 6, 202010-year Treasury: 0.65% · Jul 7, 202010-year Treasury: 0.67% · Jul 8, 202010-year Treasury: 0.62% · Jul 9, 202010-year Treasury: 0.65% · Jul 10, 202010-year Treasury: 0.64% · Jul 13, 202010-year Treasury: 0.63% · Jul 14, 202010-year Treasury: 0.64% · Jul 15, 202010-year Treasury: 0.62% · Jul 16, 202010-year Treasury: 0.64% · Jul 17, 202010-year Treasury: 0.62% · Jul 20, 202010-year Treasury: 0.61% · Jul 21, 202010-year Treasury: 0.60% · Jul 22, 202010-year Treasury: 0.59% · Jul 23, 202010-year Treasury: 0.59% · Jul 24, 202010-year Treasury: 0.62% · Jul 27, 202010-year Treasury: 0.59% · Jul 28, 202010-year Treasury: 0.58% · Jul 29, 202010-year Treasury: 0.55% · Jul 30, 202010-year Treasury: 0.55% · Jul 31, 202010-year Treasury: 0.56% · Aug 3, 202010-year Treasury: 0.52% · Aug 4, 202010-year Treasury: 0.55% · Aug 5, 202010-year Treasury: 0.55% · Aug 6, 202010-year Treasury: 0.57% · Aug 7, 202010-year Treasury: 0.59% · Aug 10, 202010-year Treasury: 0.64% · Aug 11, 202010-year Treasury: 0.69% · Aug 12, 202010-year Treasury: 0.71% · Aug 13, 202010-year Treasury: 0.71% · Aug 14, 202010-year Treasury: 0.69% · Aug 17, 202010-year Treasury: 0.67% · Aug 18, 202010-year Treasury: 0.68% · Aug 19, 202010-year Treasury: 0.65% · Aug 20, 202010-year Treasury: 0.64% · Aug 21, 202010-year Treasury: 0.65% · Aug 24, 202010-year Treasury: 0.69% · Aug 25, 202010-year Treasury: 0.69% · Aug 26, 202010-year Treasury: 0.74% · Aug 27, 202010-year Treasury: 0.74% · Aug 28, 202010-year Treasury: 0.72% · Aug 31, 202010-year Treasury: 0.68% · Sep 1, 202010-year Treasury: 0.66% · Sep 2, 202010-year Treasury: 0.63% · Sep 3, 202010-year Treasury: 0.72% · Sep 4, 202010-year Treasury: 0.69% · Sep 8, 202010-year Treasury: 0.71% · Sep 9, 202010-year Treasury: 0.68% · Sep 10, 202010-year Treasury: 0.67% · Sep 11, 202010-year Treasury: 0.68% · Sep 14, 202010-year Treasury: 0.68% · Sep 15, 202010-year Treasury: 0.69% · Sep 16, 202010-year Treasury: 0.69% · Sep 17, 202010-year Treasury: 0.70% · Sep 18, 202010-year Treasury: 0.68% · Sep 21, 202010-year Treasury: 0.68% · Sep 22, 202010-year Treasury: 0.68% · Sep 23, 202010-year Treasury: 0.67% · Sep 24, 202010-year Treasury: 0.66% · Sep 25, 202010-year Treasury: 0.67% · Sep 28, 202010-year Treasury: 0.66% · Sep 29, 202010-year Treasury: 0.69% · Sep 30, 202010-year Treasury: 0.68% · Oct 1, 202010-year Treasury: 0.70% · Oct 2, 202010-year Treasury: 0.78% · Oct 5, 202010-year Treasury: 0.76% · Oct 6, 202010-year Treasury: 0.81% · Oct 7, 202010-year Treasury: 0.78% · Oct 8, 202010-year Treasury: 0.79% · Oct 9, 202010-year Treasury: 0.74% · Oct 13, 202010-year Treasury: 0.73% · Oct 14, 202010-year Treasury: 0.74% · Oct 15, 202010-year Treasury: 0.76% · Oct 16, 202010-year Treasury: 0.78% · Oct 19, 202010-year Treasury: 0.81% · Oct 20, 202010-year Treasury: 0.83% · Oct 21, 202010-year Treasury: 0.87% · Oct 22, 202010-year Treasury: 0.85% · Oct 23, 202010-year Treasury: 0.81% · Oct 26, 202010-year Treasury: 0.79% · Oct 27, 202010-year Treasury: 0.79% · Oct 28, 202010-year Treasury: 0.85% · Oct 29, 202010-year Treasury: 0.88% · Oct 30, 2020Apr 30, 2020Jul 31, 2020Oct 31, 2020
30-year fixed mortgage27 observations10-year Treasury128 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$1,263.19/month

2.99% · Jul 30, 2020

At the later reference$1,250.30/month

2.91% · Aug 27, 2020

The illustrative principal-and-interest payment is $12.90 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.

Understand the policy connection →See current advertised mortgage options →