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Jobs · ORIGINAL ECONOMIC RELEASE

October 2011 Employment Situation

Nonfarm payroll employment continued to trend up in October (+80,000), and the unemployment rate was little changed at 9.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment in the private sector rose, with modest…

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Nonfarm payroll employment continued to trend up in October (+80,000), and the unemployment rate was little changed at 9.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment in the private sector rose, with modest job growth continuing in professional and businesses services, leisure and hospitality, health care, and mining. Government employment continued to trend down.

Household Survey Data

Both the number of unemployed persons (13.9 million) and the unemployment rate (9.0 percent) changed little over the month. The unemployment rate has remained in a narrow range from 9.0 to 9.2 percent since April. (See table A-1.)

Among the major worker groups, the unemployment rate declined for blacks (15.1 percent) in October, while the rates for adult men (8.8 percent), adult women (8.0 percent), teenagers (24.1 percent), whites (8.0 percent), and Hispanics (11.4 percent) showed little or no change. The jobless rate for Asians was 7.3 percent, not seasonally adjusted. (See tables A-1, A-2, and A-3.)

In October, the number of long-term unemployed (those jobless for 27 weeks and over) declined by 366,000 to 5.9 million, or 42.4 percent of total unemployment. (See table A-12.)

The civilian labor force participation rate remained at 64.2 percent in October, and the employment-population ratio was little changed at 58.4 percent. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) decreased by 374,000 to 8.9 million in October. 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 October, 2.6 million persons were marginally attached to the labor force, about the same as a year earlier. (The 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 967,000 discouraged workers in October, a decrease of 252,000 from a year earlier. (The 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 1.6 million persons marginally attached to the labor force in October 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 continued to trend up in October (+80,000). Over the past 12 months, payroll employment has increased by an average of 125,000 per month. In October, private-sector employment increased by 104,000, with continued job growth in professional and business services, leisure and hospitality, health care, and mining. Government employment continued to contract in October. (See table B-1.)

Employment in professional and business services continued to trend up in October (+32,000) and has grown by 562,000 over the past 12 months. Within the industry, there have been modest job gains in recent months in temporary help services and in management and technical consulting services.

Employment in leisure and hospitality edged up over the month (+22,000). Since a recent low point in January 2010, the industry has added 344,000 jobs.

Health care employment continued to expand in October 2011 (+12,000), following a gain of 45,000 in September. Offices of physicians added 8,000 jobs in October. Over the past 12 months, health care has added 313,000 jobs.

In October, mining employment continued to increase (+6,000); oil and gas extraction accounted for half of the increase. Since a recent low point in October 2009, mining employment has risen by 152,000.

Manufacturing employment changed little in October 2011 (+5,000) and has remained flat for 3 months. In October, a job gain in transportation equipment (+10,000) was partly offset by small losses in other manufacturing industries.

Within retail trade, employment increased in general merchandise stores (+10,000) and in motor vehicle and parts dealers (+6,000) in October. Retail trade has added 156,000 jobs over the past 12 months.

Construction employment declined by 20,000 in October, largely offsetting an increase of 27,000 in September; both over-the-month changes largely occurred in nonresidential construction. Employment in both residential and nonresidential construction has shown little net change in 2011.

Employment in other major private-sector industries, including wholesale trade, transportation and warehousing, information, and financial activities, changed little in October.

Government employment continued to trend down over the month (-24,000), with most of the October decline in the non-educational component of state government. Employment in both state government and local government has been trending down since the second half of 2008.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours in October. The manufacturing workweek rose by 0.2 hour to 40.5 hours, and factory overtime remained at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up by 0.1 hour to 33.7 hours in October. (See tables B-2 and B-7.)

In October, average hourly earnings for all employees on private nonfarm payrolls increased by 5 cents, or 0.2 percent, to $23.19. This increase followed a gain of 6 cents in September. Over the past 12 months, average hourly earnings have increased by 1.8 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees increased by 3 cents, or 0.2 percent, to $19.53. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for August was revised from +57,000 to +104,000, and the change for September was revised from +103,000 to +158,000.

Source: U.S. Bureau of Labor Statistics · Original release Nov 4, 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 earlierOct 5, 2011Publication referenceNov 4, 201130 days laterDec 4, 2011
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.01%Observed 4.00%Observed −1 bps vs. earlier reference4.00%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

Aug 4, 2011 – Feb 4, 2012
Historical mortgage and Treasury observations around Nov 4, 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.3.50%4.00%4.50%Publication date30-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, 201130-year fixed mortgage: 4.12% · Sep 8, 201130-year fixed mortgage: 4.09% · Sep 15, 201130-year fixed mortgage: 4.09% · Sep 22, 201130-year fixed mortgage: 4.01% · Sep 29, 201130-year fixed mortgage: 3.94% · Oct 6, 201130-year fixed mortgage: 4.12% · Oct 13, 201130-year fixed mortgage: 4.11% · Oct 20, 201130-year fixed mortgage: 4.10% · Oct 27, 201130-year fixed mortgage: 4.00% · Nov 3, 201130-year fixed mortgage: 3.99% · Nov 10, 201130-year fixed mortgage: 4.00% · Nov 17, 201130-year fixed mortgage: 3.98% · Nov 23, 201130-year fixed mortgage: 4.00% · Dec 1, 201130-year fixed mortgage: 3.99% · Dec 8, 201130-year fixed mortgage: 3.94% · Dec 15, 201130-year fixed mortgage: 3.91% · Dec 22, 201130-year fixed mortgage: 3.95% · Dec 29, 201130-year fixed mortgage: 3.91% · Jan 5, 201230-year fixed mortgage: 3.89% · Jan 12, 201230-year fixed mortgage: 3.88% · Jan 19, 201230-year fixed mortgage: 3.98% · Jan 26, 201230-year fixed mortgage: 3.87% · Feb 2, 2012Aug 4, 2011Nov 4, 2011Feb 4, 2012
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$1,432.25/month

4.00% · Nov 3, 2011

At the later reference$1,432.25/month

4.00% · Dec 1, 2011

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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