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Jobs · ORIGINAL ECONOMIC RELEASE

September 1995 Employment Situation

Nonfarm payroll employment rose modestly in September and the unemployment rate remained at 5.6 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The number of payroll jobs increased by 121,000,…

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.

Nonfarm payroll employment rose modestly in September and the unemployment rate remained at 5.6 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The number of payroll jobs increased by 121,000, although the number of factory jobs continued to decline. The jobless rate has shown little change over the past several months.

Unemployment (Household Survey Data)

Both the number of unemployed persons and the unemployment rate were essentially unchanged in September at 7.5 million and 5.6 percent, respectively. These measures have shown very little movement since the spring. In September, there was little or no change in the unemployment rates for adult women and men (each at 4.9 percent), teenagers (17.5 percent), whites (4.8 percent), and blacks (11.3 percent). The rate for Hispanics fell back to 8.9 percent, about the same as the figures for June and July. The number of unemployed persons who were on temporary layoff in September, 874,000, fell for the second straight month. (See tables A-1, A-2, and A-6.)

Total Employment and the Labor Force (Household Survey Data)

Total employment rose by 361,000 in September to 125.1 million. The employment-population ratio (the proportion of the population that was employed), at 62.9 percent, remained about the same as in August. (See table A-1.)

The number of workers who held more than one job was 7.7 million (not seasonally adjusted) in September. These workers comprised 6.1 percent of the total employed, the same proportion as a year earlier. (See table A-8.)

The civilian labor force grew by 380,000 to 132.6 million in September, seasonally adjusted. Over the past year, the labor force has expanded by 1.3 million. The labor force participation rate, at 66.6 percent in September, has fluctuated within a relatively narrow range since last spring. (See table A-1.)

Persons Not in the Labor Force (Household Survey Data)

About 1.6 million persons (not seasonally adjusted) were marginally attached to the labor force in September, that is, they wanted and were available for work but had stopped looking for jobs sometime in the prior 12 months. This was 275,000 fewer than a year earlier. The number of discouraged workers--persons who had stopped looking for work specifically because they believed there were no jobs available for them--dropped by 180,000 over the year to 341,000. (See table A-8.)

Industry Payroll Employment (Establishment Survey Data)

Total nonfarm payroll employment rose by a modest 121,000 in September to 117.0 million, after seasonal adjustment. Services and retail trade had substantial job gains, while manufacturing experienced another employment decline. (See table B-1.)

The services industry added 106,000 jobs in September, with business services again providing the largest part of the increase (59,000). Within business services, the help supply component added 35,000 jobs. This increase, combined with that for August, more than recouped the job losses the industry sustained earlier in the year. Computer services, another component of business services, continued to grow, adding 10,000 jobs in September. This industry has experienced uninterrupted growth over the last decade, with employment nearly doubling to 1.1 million. Elsewhere in the services industry, employment rose in health services (25,000) and social services (33,000) but declined in amusements and recreation and in membership organizations.

Retail trade employment rose by 48,000 in September. Eating and drinking establishments added 20,000 jobs, partially recouping large August losses. Auto dealers and service stations again had strong employment growth, and miscellaneous retail and department stores also made gains. Apparel and accessory stores continued its downward path, with a particularly steep over-the-month loss (15,000).

Elsewhere in the service-producing sector, finance, insurance, and real estate continued a pattern of slow job growth. Employment in each of the three major components of this industry division has been on an upward path over the last several months. In transportation and public utilities and in wholesale trade, employment was little changed over the month. Government employment declined by 30,000 with losses concentrated in the state and local education components where employment had risen substantially in August. The decline in employment on a seasonally adjusted basis reflected the increasing trend for schools to be open in August. This change has shifted some of the seasonal employment buildup in education from September to August. The Federal government, excluding the postal service, continued to downsize.

Manufacturing employment declined by 32,000 in September, bringing factory job losses since March to 200,000. Over the month, job declines were widespread. The largest decreases occurred in apparel and textiles, where job losses have accelerated in recent months, and in motor vehicles. Electronic components and industrial machinery, industries which have shown consistent strength in 1995, again added jobs in September.

Employment in construction rose by 16,000, after seasonal adjustment, as weak hiring earlier this year resulted in fewer September layoffs than expected, based on the seasonal factors. Over the past year, construction has added 170,000 workers, less than half as many as in the prior year.

Weekly Hours (Establishment Survey Data)

The average workweek for production or nonsupervisory workers on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours, seasonally adjusted. The manufacturing workweek also was up by 0.1 hour to 41.6 hours, and factory overtime rose by 0.2 hour to 4.5 hours. (See table B-2.)

The index of aggregate weekly hours of private production or nonsupervisory workers on nonfarm payrolls rose by 0.5 percent to 132.9 (1982=100) in September, offsetting a similar decline in the prior month. The manufacturing index was unchanged at 106.3, seasonally adjusted. (See table B-5.)

Hourly and Weekly Earnings (Establishment Survey Data)

Average hourly earnings of private production or nonsupervisory workers increased by 4 cents in September to $11.52, seasonally adjusted. Average weekly earnings increased by 0.6 percent to $396.29, reflecting increases in the workweek and hourly pay. Over the past year, average hourly and weekly earnings rose by 3.0 and 2.1 percent, respectively. (See table B-3.)

HOUSEHOLD DATA Table A-1. Employment status of the civilian population by sex and age

1/ The population figures are not adjusted for seasonal variation; therefore, identical numbers appear in the unadjusted and seasonally adjusted columns.

1/ The population figures are not adjusted for seasonal variation; therefore, identical numbers appear in the unadjusted and seasonally adjusted columns. NOTE: Detail for the above race and Hispanic-origin groups will not sum to totals because data for the "other races" group are not presented and Hispanics are included in both the white and black population groups.

HOUSEHOLD DATA Table A-3. Selected employment indicators

(In thousands)

1/ Unemployment as a percent of the civilian labor force. 2/ Seasonally adjusted unemployment data for service occupations are not available because the seasonal component, which is small relative to the trend-cycle and irregular components, cannot be separated with sufficient precision.

1/ Not available.

1/ Unemployment as a percent of the civilian labor force.

(In thousands)

1/ Data refer to persons who have searched for work during the prior 12 months and were available to take a job during the reference week. 2/ Includes thinks no work available, could not find work, lacks schooling or training, employer thinks too young or old, and other types of discrimination. 3/ Includes those who did not actively look for work in the prior 4 weeks for such reasons as child-care and transportation problems, as well as a small number for which reason for nonparticipation was not determined. 4/ Includes persons who work part time on their primary job and full time on their secondary job(s), not shown separately.

California

Florida

Illinois

Massachusetts

Michigan

New Jersey

New York

North Carolina

Ohio

Pennsylvania

Texas

1/ These are the official Bureau of Labor Statistics' estimates used in the administration of Federal fund allocation programs. 2/ The population figures are not adjusted for seasonal variation; therefore, identical numbers appear in the unadjusted and the seasonally adjusted columns.

ESTABLISHMENT DATA ESTABLISHMENT DATA

Source: U.S. Bureau of Labor Statistics · Original release Oct 6, 1995.

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 beyond one jobs number

The Employment Situation combines two surveys: establishment data measure payroll jobs, hours and earnings, while household data measure people’s employment status and the unemployment rate. A payroll-job change and an unemployment-rate change therefore answer different questions. Check the reference period, participation and revisions alongside the headline. Labor-market conditions inform the policy outlook, but a later mortgage-rate change can reflect many developments; this calendar window cannot identify the report as its cause. BLS Employment Situation tables and technical notes.

Nearest published observation on or before each target date
Benchmark30 days earlierSep 6, 1995Publication referenceOct 6, 199530 days laterNov 5, 1995
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®7.76%Observed 7.57%Observed −19 bps vs. earlier reference7.44%Observed −13 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 6, 1995 – Jan 6, 1996
Historical mortgage and Treasury observations around Oct 6, 1995Each 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.7.00%7.50%8.00%Publication date30-year fixed mortgage: 7.63% · Jul 7, 199530-year fixed mortgage: 7.41% · Jul 14, 199530-year fixed mortgage: 7.60% · Jul 21, 199530-year fixed mortgage: 7.79% · Jul 28, 199530-year fixed mortgage: 7.82% · Aug 4, 199530-year fixed mortgage: 7.80% · Aug 11, 199530-year fixed mortgage: 7.94% · Aug 18, 199530-year fixed mortgage: 7.88% · Aug 25, 199530-year fixed mortgage: 7.76% · Sep 1, 199530-year fixed mortgage: 7.63% · Sep 8, 199530-year fixed mortgage: 7.60% · Sep 15, 199530-year fixed mortgage: 7.57% · Sep 22, 199530-year fixed mortgage: 7.62% · Sep 29, 199530-year fixed mortgage: 7.57% · Oct 6, 199530-year fixed mortgage: 7.50% · Oct 13, 199530-year fixed mortgage: 7.38% · Oct 20, 199530-year fixed mortgage: 7.45% · Oct 27, 199530-year fixed mortgage: 7.44% · Nov 3, 199530-year fixed mortgage: 7.37% · Nov 9, 199530-year fixed mortgage: 7.35% · Nov 17, 199530-year fixed mortgage: 7.35% · Nov 24, 199530-year fixed mortgage: 7.33% · Dec 1, 199530-year fixed mortgage: 7.18% · Dec 8, 199530-year fixed mortgage: 7.15% · Dec 15, 199530-year fixed mortgage: 7.23% · Dec 22, 199530-year fixed mortgage: 7.11% · Dec 29, 199530-year fixed mortgage: 7.02% · Jan 5, 1996Jul 6, 1995Oct 6, 1995Jan 6, 1996
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$2,112.04/month

7.57% · Oct 6, 1995

At the later reference$2,085.33/month

7.44% · Nov 3, 1995

The illustrative principal-and-interest payment is $26.71 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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