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

Jobs · ORIGINAL ECONOMIC RELEASE

November 2012 Employment Situation

Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, 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.

(NOTE: Data published in this release for women employees in the retail trade; trade, transportation, and utilities; private service-providing; total private; and total nonfarm industries are erroneous. Errors are found in Summary table B and table B-5. Additional information is available at www.bls.gov/bls/ceswomen_retail_correction.htm.)

Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, professional and business services, and health care.

Household Survey Data

The unemployment rate edged down to 7.7 percent in November. The number of unemployed persons, at 12.0 million, changed little. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (7.2 percent), adult women (7.0 percent), teenagers (23.5 percent), whites (6.8 percent), and Hispanics (10.0 percent) showed little or no change in November. The unemployment rate for blacks (13.2 percent) declined over the month. The jobless rate for Asians was 6.4 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 4.8 million in November. These individuals accounted for 40.1 percent of the unemployed. (See table A-12.)

The civilian labor force participation rate declined by 0.2 percentage point to 63.6 percent in November, offsetting an increase of the same amount in October. Total employment was about unchanged in November, following a combined increase of 1.3 million over the prior 2 months. The employment-population ratio, at 58.7 percent, changed little in November. (See table A-1.)

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers), at 8.2 million in November, was little changed over the month. 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 November, 2.5 million persons were marginally attached to the labor force, essentially unchanged from 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 979,000 discouraged workers in November, little changed 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 1.5 million persons marginally attached to the labor force in November 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 increased by 146,000 in November. Since the beginning of this year, employment growth has averaged 151,000 per month, about the same as the average monthly job gain of 153,000 in 2011. In November, employment rose in retail trade, professional and business services, and health care. (See table B-1.)

Retail trade employment rose by 53,000 in November and has increased by 140,000 over the past 3 months. Over the month, job gains occurred in clothing and clothing accessory stores (+33,000), in general merchandise stores (+10,000), and in electronics and appliance stores (+9,000). Employment in miscellaneous store retailers decreased by 13,000.

In November, employment in professional and business services rose by 43,000. Employment continued to increase in computer systems design and related services.

Health care employment continued to increase in November (+20,000), with gains in hospitals (+8,000) and in nursing care facilities (+5,000). Health care has added an average of 26,000 jobs per month this year.

Employment in wholesale trade edged up over the month (+13,000). Since reaching an employment trough in May 2010, the industry has added 228,000 jobs.

Information employment also edged up in November (+12,000), with the increase concentrated in motion picture and sound recording (+15,000). On net, information employment has changed little over the past 12 months.

In November, leisure and hospitality employment continued to trend up (+23,000). Over the past 12 months, the industry has added 305,000 jobs.

Employment in construction declined by 20,000 in November, with much of the loss occurring in construction of buildings (-11,000). Since early 2010, employment in construction has shown no clear trend.

Manufacturing employment changed little over the month. Within the industry, job losses in food manufacturing (-12,000) and chemicals (-9,000) more than offset gains in motor vehicles and parts (+10,000) and wood products (+3,000). On net, manufacturing employment has changed little since this past spring.

Employment in other major industries, including mining and logging, transportation and warehousing, financial activities, and government, showed little change in November.

The average workweek for all employees on private nonfarm payrolls remained at 34.4 hours in November. The manufacturing workweek edged up by 0.1 hour to 40.6 hours, and factory overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged up 0.1 hour to 33.7 hours. (See tables B-2 and B-7.)

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $23.63. Over the past 12 months, average hourly earnings have risen by 1.7 percent. In November, average hourly earnings of private-sector production and nonsupervisory employees edged up by 3 cents to $19.84. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for September was revised from +148,000 to +132,000, and the change for October was revised from +171,000 to +138,000.

Source: U.S. Bureau of Labor Statistics · Original release Dec 7, 2012.

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 7, 2012Publication referenceDec 7, 201230 days laterJan 6, 2013
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®3.39%Observed 3.34%Observed −5 bps vs. earlier reference3.34%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

Sep 7, 2012 – Mar 7, 2013
Historical mortgage and Treasury observations around Dec 7, 2012Each 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.3.00%3.50%4.00%Publication date30-year fixed mortgage: 3.55% · Sep 13, 201230-year fixed mortgage: 3.49% · Sep 20, 201230-year fixed mortgage: 3.40% · Sep 27, 201230-year fixed mortgage: 3.36% · Oct 4, 201230-year fixed mortgage: 3.39% · Oct 11, 201230-year fixed mortgage: 3.37% · Oct 18, 201230-year fixed mortgage: 3.41% · Oct 25, 201230-year fixed mortgage: 3.39% · Nov 1, 201230-year fixed mortgage: 3.40% · Nov 8, 201230-year fixed mortgage: 3.34% · Nov 15, 201230-year fixed mortgage: 3.31% · Nov 21, 201230-year fixed mortgage: 3.32% · Nov 29, 201230-year fixed mortgage: 3.34% · Dec 6, 201230-year fixed mortgage: 3.32% · Dec 13, 201230-year fixed mortgage: 3.37% · Dec 20, 201230-year fixed mortgage: 3.35% · Dec 27, 201230-year fixed mortgage: 3.34% · Jan 3, 201330-year fixed mortgage: 3.40% · Jan 10, 201330-year fixed mortgage: 3.38% · Jan 17, 201330-year fixed mortgage: 3.42% · Jan 24, 201330-year fixed mortgage: 3.53% · Jan 31, 201330-year fixed mortgage: 3.53% · Feb 7, 201330-year fixed mortgage: 3.53% · Feb 14, 201330-year fixed mortgage: 3.56% · Feb 21, 201330-year fixed mortgage: 3.51% · Feb 28, 201330-year fixed mortgage: 3.52% · Mar 7, 2013Sep 7, 2012Dec 7, 2012Mar 7, 2013
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$1,320.48/month

3.34% · Dec 6, 2012

At the later reference$1,320.48/month

3.34% · Jan 3, 2013

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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