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

Jobs · ORIGINAL ECONOMIC RELEASE

February 2010 Employment Situation

Nonfarm payroll employment was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction and information, while tem- porary…

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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 was little changed (-36,000) in February, and the unemployment rate held at 9.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction and information, while tem- porary help services added jobs. Severe winter weather in parts of the country may have affected payroll employment and hours; however, it is not possible to quantify precisely the net impact of the winter storms on these measures. For more information on the effects of the severe weather on employ- ment estimates, see the box note at the end of the release.

Household Survey Data

In February, the number of unemployed persons, at 14.9 million, was essen- tially unchanged, and the unemployment rate remained at 9.7 percent. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (10.0 per- cent), adult women (8.0 percent), whites (8.8 percent), blacks (15.8 percent), Hispanics (12.4 percent), and teenagers (25.0 percent) showed little to no change in February. The jobless rate for Asians was 8.4 percent, not season- ally adjusted. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks and over) was 6.1 million in February and has been about that level since December. About 4 in 10 unemployed persons have been unemployed for 27 weeks or more. (See table A-12.)

In February, the civilian labor force participation rate (64.8 percent) and the employment-population ratio (58.5 percent) were little changed. (See table A-1.)

The number of persons working part time for economic reasons (sometimes refer- red to as involuntary part-time workers) increased from 8.3 to 8.8 million in February, partially offsetting a large decrease in the prior month. These in- dividuals were working part time because their hours had been cut back or be- cause they were unable to find a full-time job. (See table A-8.)

About 2.5 million persons were marginally attached to the labor force in February, an increase of 476,000 from a year earlier. (The data are not sea- sonally adjusted.) These individuals were not in the labor force, 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. (See table A-16.)

Among the marginally attached, there were 1.2 million discouraged workers in February, up by 473,000 from a year earlier. (The data are not seasonally ad- justed.) Discouraged workers are persons not currently looking for work be- cause they believe no jobs are available for them. The remaining 1.3 million persons marginally attached to the labor force had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities.

Establishment Survey Data

Total nonfarm payroll employment was little changed in February (-36,000). Job losses continued in construction and information, while employment con- tinued to increase in temporary help services. Since the start of the reces- sion in December 2007, payroll employment has fallen by 8.4 million. (See table B-1.)

Construction employment fell by 64,000 in February, about in line with the average monthly job loss over the prior 6 months. Job losses were concen- trated in nonresidential building (-10,000) and among nonresidential specialty trade contractors (-35,000). Since December 2007, employment in construction has fallen by 1.9 million.

Employment in the information industry dropped by 18,000 in February. Since December 2007, job losses in information have totaled 297,000. In February, employment in transportation and warehousing continued to trend down.

Employment in manufacturing was essentially unchanged in February. Small job gains in a number of component industries were offset by job losses in motor vehicles and parts and in chemicals.

Retail trade employment was unchanged in February, after a sizeable increase in January. Over the month, job gains in building material and garden supply stores (7,000) and in department stores (6,000) were offset by declines in food and beverage stores (-9,000).

In February, temporary help services added 48,000 jobs. Since reaching a low point in September 2009, temporary help services employment has risen by 284,000. Health care employment continued to trend upward in February.

In February, employment in the federal government edged up. The hiring of 15,000 temporary workers for Census 2010 was partially offset by a decline in U.S. Postal Service employment.

The average workweek for all employees on private nonfarm payrolls declined by 0.1 hour to 33.8 hours in February. The manufacturing workweek for all employees dropped by 0.4 hour to 39.5 hours, and factory overtime decreased by 0.2 hour over the month. In February, the average workweek for production or nonsupervisory employees on private nonfarm payrolls fell by 0.2 hour to 33.1 hours; the workweek fell by 1.0 hour in construction, likely reflecting the unusually severe winter storms. (See tables B-2 and B-7.)

In February, average hourly earnings of all employees on private nonfarm payrolls increased by 3 cents, or 0.1 percent, to $22.46. Over the past 12 months, average hourly earnings have risen by 1.9 percent. In February, aver- age hourly earnings of private production and nonsupervisory employees rose by 3 cents, or 0.2 percent, to $18.93. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for December was revised from -150,000 to -109,000, and the change for January was revised from -20,000 to -26,000.

Source: U.S. Bureau of Labor Statistics · Original release Mar 5, 2010.

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 earlierFeb 3, 2010Publication referenceMar 5, 201030 days laterApr 4, 2010
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.98%Observed 4.97%Observed −1 bps vs. earlier reference5.08%Observed +11 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

Dec 5, 2009 – Jun 5, 2010
Historical mortgage and Treasury observations around Mar 5, 2010Each 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: 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, 201030-year fixed mortgage: 5.01% · Feb 4, 201030-year fixed mortgage: 4.97% · Feb 11, 201030-year fixed mortgage: 4.93% · Feb 18, 201030-year fixed mortgage: 5.05% · Feb 25, 201030-year fixed mortgage: 4.97% · Mar 4, 201030-year fixed mortgage: 4.95% · Mar 11, 201030-year fixed mortgage: 4.96% · Mar 18, 201030-year fixed mortgage: 4.99% · Mar 25, 201030-year fixed mortgage: 5.08% · Apr 1, 201030-year fixed mortgage: 5.21% · Apr 8, 201030-year fixed mortgage: 5.07% · Apr 15, 201030-year fixed mortgage: 5.07% · Apr 22, 201030-year fixed mortgage: 5.06% · Apr 29, 201030-year fixed mortgage: 5.00% · May 6, 201030-year fixed mortgage: 4.93% · May 13, 201030-year fixed mortgage: 4.84% · May 20, 201030-year fixed mortgage: 4.78% · May 27, 201030-year fixed mortgage: 4.79% · Jun 3, 2010Dec 5, 2009Mar 5, 2010Jun 5, 2010
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$1,604.97/month

4.97% · Mar 4, 2010

At the later reference$1,625.16/month

5.08% · Apr 1, 2010

The illustrative principal-and-interest payment is $20.20 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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