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

Jobs · ORIGINAL ECONOMIC RELEASE

August 2010 Employment Situation

Nonfarm payroll employment changed little (-54,000) in August, and the unem- ployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers…

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Nonfarm payroll employment changed little (-54,000) in August, and the unem- ployment rate was about unchanged at 9.6 percent, the U.S. Bureau of Labor Statistics reported today. Government employment fell, as 114,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment continued to trend up modestly (+67,000).

Household Survey Data

The number of unemployed persons (14.9 million) and the unemployment rate (9.6 percent) were little changed in August. From May through August, the jobless rate remained in the range of 9.5 to 9.7 percent. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (9.8 per- cent), adult women (8.0 percent), teenagers (26.3 percent), whites (8.7 per- cent), blacks (16.3 percent), and Hispanics (12.0 percent) showed little change in August. The jobless rate for Asians was 7.2 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) de- clined by 323,000 over the month to 6.2 million. In August, 42.0 percent of unemployed persons had been jobless for 27 weeks or more. (See table A-12.)

In August, the civilian labor force participation rate (64.7 percent) and the employment-population ratio (58.5 percent) were essentially unchanged. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes re- ferred to as involuntary part-time workers) increased by 331,000 over the month to 8.9 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)

About 2.4 million persons were marginally attached to the labor force in August, little changed from a year earlier. (The data are not seasonally ad- justed.) These individuals were not in the labor force, wanted and were avail- able 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 1.1 million discouraged workers in August, an increase of 352,000 from a year earlier. (The data are not season- ally adjusted.) Discouraged workers are persons not currently looking for work because 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 (-54,000) in August. Govern- ment employment fell by 121,000, reflecting the departure of 114,000 temporary Census 2010 workers from federal government payrolls. Total private employment continued to trend up modestly over the month (+67,000). Since its most recent low in December 2009, private-sector employment has risen by 763,000. (See table B-1.)

Employment in health care increased by 28,000 in August, with the largest gains occurring in ambulatory health care services (+17,000) and hospitals (+9,000). Thus far in 2010, the health care industry has added an average of 20,000 jobs per month, about in line with the average monthly job growth in 2009.

Mining employment rose by 8,000 in August. Since a recent low in October 2009, employment in the industry has increased by 72,000. Support activities for mining has accounted for about three-fourths of the gain.

Manufacturing employment declined by 27,000 over the month. A decline in motor vehicles and parts (-22,000) offset a gain of similar magnitude in July as the industry departed somewhat from its usual layoff and recall pattern for annual retooling.

Within professional and business services, employment in temporary help services was up by 17,000. This industry has added 392,000 jobs since a recent employment low in September 2009.

Construction employment was up (+19,000) in August. This change partially re- flected the return to payrolls of 10,000 workers who were on strike in July.

Employment in retail trade was about unchanged over the month. A job gain among motor vehicle and parts dealers (+8,000) was essentially offset by losses in building materials and garden supply stores (-6,000).

Employment in other private-sector industries, including wholesale trade, trans- portation and warehousing, information, financial activities, and leisure and hospitality, showed little change in August.

Over the month, government employment fell by 121,000, largely reflecting the loss of 114,000 temporary workers hired for Census 2010. The number of tempor- ary Census 2010 workers peaked in May at 564,000 but has declined to 82,000 in August.

The average workweek for all employees on private nonfarm payrolls was unchanged over the month at 34.2 hours. The manufacturing workweek for all employees in- creased by 0.1 hour to 40.2 hours, and factory overtime was up by 0.1 hour. The average workweek for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.5 hours. (See tables B-2 and B-7.)

Average hourly earnings of all employees on private nonfarm payrolls increased by 6 cents, or 0.3 percent, to $22.66 in August. Over the past 12 months, aver- age hourly earnings have increased by 1.7 percent. In August, average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents, or 0.2 percent, to $19.08. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for June was revised from -221,000 to -175,000, and the change for July was revised from -131,000 to -54,000.

Source: U.S. Bureau of Labor Statistics · Original release Sep 3, 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 earlierAug 4, 2010Publication referenceSep 3, 201030 days laterOct 3, 2010
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.54%Observed 4.32%Observed −22 bps vs. earlier reference4.32%Observed Unchanged 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

Jun 3, 2010 – Dec 3, 2010
Historical mortgage and Treasury observations around Sep 3, 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.4.00%4.50%5.00%Publication date30-year fixed mortgage: 4.79% · Jun 3, 201030-year fixed mortgage: 4.72% · Jun 10, 201030-year fixed mortgage: 4.75% · Jun 17, 201030-year fixed mortgage: 4.69% · Jun 24, 201030-year fixed mortgage: 4.58% · Jul 1, 201030-year fixed mortgage: 4.57% · Jul 8, 201030-year fixed mortgage: 4.57% · Jul 15, 201030-year fixed mortgage: 4.56% · Jul 22, 201030-year fixed mortgage: 4.54% · Jul 29, 201030-year fixed mortgage: 4.49% · Aug 5, 201030-year fixed mortgage: 4.44% · Aug 12, 201030-year fixed mortgage: 4.42% · Aug 19, 201030-year fixed mortgage: 4.36% · Aug 26, 201030-year fixed mortgage: 4.32% · Sep 2, 201030-year fixed mortgage: 4.35% · Sep 9, 201030-year fixed mortgage: 4.37% · Sep 16, 201030-year fixed mortgage: 4.37% · Sep 23, 201030-year fixed mortgage: 4.32% · Sep 30, 201030-year fixed mortgage: 4.27% · Oct 7, 201030-year fixed mortgage: 4.19% · Oct 14, 201030-year fixed mortgage: 4.21% · Oct 21, 201030-year fixed mortgage: 4.23% · Oct 28, 201030-year fixed mortgage: 4.24% · Nov 4, 201030-year fixed mortgage: 4.17% · Nov 11, 201030-year fixed mortgage: 4.39% · Nov 18, 201030-year fixed mortgage: 4.40% · Nov 24, 201030-year fixed mortgage: 4.46% · Dec 2, 2010Jun 3, 2010Sep 3, 2010Dec 3, 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$1,488.14/month

4.32% · Sep 2, 2010

At the later reference$1,488.14/month

4.32% · Sep 30, 2010

The illustrative principal-and-interest payment is unchanged. 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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