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

Jobs · ORIGINAL ECONOMIC RELEASE

May 2011 Employment Situation

Nonfarm payroll employment changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business…

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 changed little (+54,000) in May, and the unemployment rate was essentially unchanged at 9.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains continued in professional and business services, health care, and mining. Employment levels in other major private-sector industries were little changed, and local government employment continued to decline.

Household Survey Data

The number of unemployed persons (13.9 million) and the unemployment rate (9.1 percent) were essentially unchanged in May. The labor force, at 153.7 million, was little changed over the month. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (8.9 percent), adult women (8.0 percent), teenagers (24.2 percent), whites (8.0 percent), blacks (16.2 percent), and Hispanics (11.9 percent) showed little or no change in May. The jobless rate for Asians was 7.0 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

In May, the number of long-term unemployed (those jobless for 27 weeks and over) increased by 361,000 to 6.2 million; their share of unemployment increased to 45.1 percent. (See table A-12.)

The civilian labor force participation rate was 64.2 percent for the fifth consecutive month. The employment-population ratio remained at 58.4 percent in May. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was essentially unchanged in May at 8.5 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.)

In May, 2.2 million persons were marginally attached to the labor force, about the same as a year earlier. (These data are not seasonally 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 822,000 discouraged workers in May, a decrease of 261,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.4 million persons marginally attached to the labor force in May had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment was little changed in May (+54,000), following gains that averaged 220,000 in the prior 3 months. Private-sector employment continued to trend up (+83,000), although by a much smaller amount than the average for the prior 3 months (+244,000). In May, job gains occurred in professional and business services, health care, and mining. Local government employment continued to trend down. Employment in other major industries changed little over the month. (See table B-1.)

Employment in professional and business services continued to increase in May (+44,000). Notable job gains occurred in accounting and bookkeeping services (+18,000) and in computer systems design and related services (+8,000). Employment in temporary help services was little changed.

Health care employment continued to expand in May (+17,000). Employment in the industry had risen by an average of 24,000 per month over the prior 12 months.

Mining added 7,000 jobs in May. Employment in mining has risen by 115,000 since a recent low point in October 2009.

Employment in manufacturing changed little in May (-5,000). Job gains in fabricated metal products and in machinery were offset by losses in transportation equipment, paper and paper products, and printing and related support activities. The manufacturing industry added 243,000 jobs from a recent low point in December 2009 through April 2011.

Construction employment was essentially unchanged in May. Employment in the industry has shown little movement on net since early 2010, after having fallen sharply during the 2007-09 period.

Employment in local government continued to decline over the month (-28,000). Local government has lost 446,000 jobs since an employment peak in September 2008.

Employment in other major industries, including retail trade, transportation and warehousing, information, financial activities, and leisure and hospitality, changed little in May.

The average workweek for all employees on private nonfarm payrolls remained at 34.4 hours in May. The manufacturing workweek for all employees increased by 0.2 hour to 40.6 hours over the month, while factory overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was 33.6 hours in May. (See tables B-2 and B-7.)

In May, average hourly earnings for all employees on private nonfarm payrolls increased by 6 cents, or 0.3 percent, to $22.98. Over the past 12 months, average hourly earnings increased by 1.8 percent. In May, average hourly earnings of private-sector production and nonsupervisory employees rose by 6 cents, or 0.3 percent, to $19.43. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for March was revised from +221,000 to +194,000, and the change for April was revised from +244,000 to +232,000.

Source: U.S. Bureau of Labor Statistics · Original release Jun 3, 2011.

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 earlierMay 4, 2011Publication referenceJun 3, 201130 days laterJul 3, 2011
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.78%Observed 4.55%Observed −23 bps vs. earlier reference4.51%Observed −4 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

Mar 3, 2011 – Sep 3, 2011
Historical mortgage and Treasury observations around Jun 3, 2011Each 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: 4.87% · Mar 3, 201130-year fixed mortgage: 4.88% · Mar 10, 201130-year fixed mortgage: 4.76% · Mar 17, 201130-year fixed mortgage: 4.81% · Mar 24, 201130-year fixed mortgage: 4.86% · Mar 31, 201130-year fixed mortgage: 4.87% · Apr 7, 201130-year fixed mortgage: 4.91% · Apr 14, 201130-year fixed mortgage: 4.80% · Apr 21, 201130-year fixed mortgage: 4.78% · Apr 28, 201130-year fixed mortgage: 4.71% · May 5, 201130-year fixed mortgage: 4.63% · May 12, 201130-year fixed mortgage: 4.61% · May 19, 201130-year fixed mortgage: 4.60% · May 26, 201130-year fixed mortgage: 4.55% · Jun 2, 201130-year fixed mortgage: 4.49% · Jun 9, 201130-year fixed mortgage: 4.50% · Jun 16, 201130-year fixed mortgage: 4.50% · Jun 23, 201130-year fixed mortgage: 4.51% · Jun 30, 201130-year fixed mortgage: 4.60% · Jul 7, 201130-year fixed mortgage: 4.51% · Jul 14, 201130-year fixed mortgage: 4.52% · Jul 21, 201130-year fixed mortgage: 4.55% · Jul 28, 201130-year fixed mortgage: 4.39% · Aug 4, 201130-year fixed mortgage: 4.32% · Aug 11, 201130-year fixed mortgage: 4.15% · Aug 18, 201130-year fixed mortgage: 4.22% · Aug 25, 201130-year fixed mortgage: 4.22% · Sep 1, 2011Mar 3, 2011Jun 3, 2011Sep 3, 2011
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$1,528.98/month

4.55% · Jun 2, 2011

At the later reference$1,521.84/month

4.51% · Jun 30, 2011

The illustrative principal-and-interest payment is $7.14 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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