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

Jobs · ORIGINAL ECONOMIC RELEASE

November 2006 Employment Situation

Nonfarm payroll employment rose by 132,000 in November, and the unemployment rate was essentially unchanged at 4.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job gains continued in several…

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Nonfarm payroll employment rose by 132,000 in November, and the unemployment rate was essentially unchanged at 4.5 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Job gains continued in several service-providing industries, including professional and business services, food services, and health care. Employment declined in construction and manufacturing.

Unemployment (Household Survey Data)

Both the number of unemployed persons (6.8 million) and the unemployment rate (4.5 percent) were about unchanged in November. Over the year, these measures have declined from 7.6 million and 5.0 percent, respectively.

In November, unemployment rates for all major worker groups--adult men (3.9 percent), adult women (4.0 percent), teenagers (15.1 percent), whites (3.9 per- cent), blacks (8.6 percent), and Hispanics (4.9 percent)--showed little or no change over the month. The unemployment rate for Asians was 3.2 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

Total Employment and the Labor Force (Household Survey Data)

In November, total employment, at 145.6 million, was essentially unchanged, and the employment-population ratio remained at 63.3 percent. The civilian labor force rose by 383,000 to 152.4 million; the labor force participation rate, at 66.3 percent, was about the same as in October. (See table A-1.)

Persons Not in the Labor Force (Household Survey Data)

About 1.4 million persons (not seasonally adjusted) were marginally attached to the labor force in November, about unchanged from a year earlier. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 349,000 discouraged workers in November, little changed from a year earlier. Discouraged workers were not currently looking for work specifically because they believed no jobs were available for them. The other 1.0 million marginally attached had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-13.)

Industry Payroll Employment (Establishment Survey Data)

Total nonfarm payroll employment rose by 132,000 in November to 136.0 mil- lion. This followed increases of 203,000 in September and 79,000 in October (as revised). Thus far this year, payroll employment has grown by an average of 149,000 per month. In November, employment rose in several service-provid- ing industries and in mining; employment declined in construction and continued to trend downward in manufacturing. (See table B-1.)

Professional and business services employment increased by 43,000 in November and has risen by 426,000 over the year. Job growth has occurred in a number of industries, including architectural and engineering services, management con- sulting, and computer systems design. Employment in temporary help services was flat over the month and has changed little since January.

Health care employment rose by 28,000 in November. Hospitals and doctors' offices each added 6,000 jobs. Over the year, health care employment has increased by 309,000.

In leisure and hospitality, employment growth continued in food services and drinking places. This industry added 34,000 jobs in November, raising total job gains over the last 12 months to 295,000.

Employment in wholesale trade continued to trend up in November. Employment in this industry has risen by 288,000 since its most recent low in August 2003. Within retail trade, employment grew over the month in clothing and accessory stores; health and personal care stores; sporting goods, hobby, book, and music stores; and nonstore retailers (which include catalog and internet retailers). General merchandise stores continued to lose jobs (-12,000 after seasonal ad- justment); since August 2005, employment in this industry has decreased by 107,000.

In the goods-producing sector, mining employment grew by 4,000 in November with gains in support activities for oil and gas. Employment in mining has grown by 136,000 since its most recent low in April 2003.

Construction employment declined by 29,000 in November, following a loss of similar size in October. The November decline was spread across all component industries. Since peaking in February of this year, employment in residential specialty trades was down by 109,000. Employment in nonresidential specialty trades edged down in November, after trending up during the first 10 months of the year.

Manufacturing employment continued to trend down (-15,000) in November. Motor vehicles and parts lost 7,000 jobs. Employment continued to fall in two construction-related industries: wood products (-6,000) and furniture and related products (-5,000). Computer and electronic products manufacturing added 5,000 jobs over the month.

Weekly Hours (Establishment Survey Data)

The average workweek for production and nonsupervisory workers on private nonfarm payrolls was unchanged at 33.9 hours in November. The manufacturing workweek and factory overtime both fell by 0.1 hour to 41.1 and 4.2 hours, respectively. (See table B-2.)

The index of aggregate weekly hours of production and nonsupervisory workers on private nonfarm payrolls increased by 0.1 percent in November to 105.6 (2002=100). The manufacturing index fell by 0.4 percent to 95.5. (See table B-5.)

Hourly and Weekly Earnings (Establishment Survey Data)

Average hourly earnings of production and nonsupervisory workers on private nonfarm payrolls rose by 3 cents, or 0.2 percent, in November to $16.94. Average weekly earnings also rose by 0.2 percent in November to $574.27. Over the year, average hourly earnings increased by 4.1 percent, and average weekly earnings increased by 4.4 percent. (See table B-3.)

Feb. 2 May 4 Aug. 3 Nov. 2 March 9 June 1 Sept. 7 Dec. 7 April 6 July 6 Oct. 5

Source: U.S. Bureau of Labor Statistics · Original release Dec 8, 2006.

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 earlierNov 8, 2006Publication referenceDec 8, 200630 days laterJan 7, 2007
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.31%Observed 6.11%Observed −20 bps vs. earlier reference6.18%Observed +7 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

Sep 8, 2006 – Mar 8, 2007
Historical mortgage and Treasury observations around Dec 8, 2006Each 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.6.00%6.25%6.50%Publication date30-year fixed mortgage: 6.43% · Sep 14, 200630-year fixed mortgage: 6.40% · Sep 21, 200630-year fixed mortgage: 6.31% · Sep 28, 200630-year fixed mortgage: 6.30% · Oct 5, 200630-year fixed mortgage: 6.37% · Oct 12, 200630-year fixed mortgage: 6.36% · Oct 19, 200630-year fixed mortgage: 6.40% · Oct 26, 200630-year fixed mortgage: 6.31% · Nov 2, 200630-year fixed mortgage: 6.33% · Nov 9, 200630-year fixed mortgage: 6.24% · Nov 16, 200630-year fixed mortgage: 6.18% · Nov 22, 200630-year fixed mortgage: 6.14% · Nov 30, 200630-year fixed mortgage: 6.11% · Dec 7, 200630-year fixed mortgage: 6.12% · Dec 14, 200630-year fixed mortgage: 6.13% · Dec 21, 200630-year fixed mortgage: 6.18% · Dec 28, 200630-year fixed mortgage: 6.18% · Jan 4, 200730-year fixed mortgage: 6.21% · Jan 11, 200730-year fixed mortgage: 6.23% · Jan 18, 200730-year fixed mortgage: 6.25% · Jan 25, 200730-year fixed mortgage: 6.34% · Feb 1, 200730-year fixed mortgage: 6.28% · Feb 8, 200730-year fixed mortgage: 6.30% · Feb 15, 200730-year fixed mortgage: 6.22% · Feb 22, 200730-year fixed mortgage: 6.18% · Mar 1, 200730-year fixed mortgage: 6.14% · Mar 8, 2007Sep 8, 2006Dec 8, 2006Mar 8, 2007
30-year fixed mortgage26 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$1,819.92/month

6.11% · Dec 7, 2006

At the later reference$1,833.52/month

6.18% · Jan 4, 2007

The illustrative principal-and-interest payment is $13.59 higher 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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