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

Jobs · ORIGINAL ECONOMIC RELEASE

March 2014 Employment Situation

Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health…

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Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health care, and in mining and logging.

Household Survey Data

In March, the number of unemployed persons was essentially unchanged at 10.5 million, and the unemployment rate held at 6.7 percent. Both measures have shown little movement since December 2013. Over the year, the number of unemployed persons and the unemployment rate were down by 1.2 million and 0.8 percentage point, respectively. (See table A-1.)

Among the major worker groups, the unemployment rate for adult women increased to 6.2 percent in March, and the rate for adult men decreased to 6.2 percent. The rates for teenagers (20.9 percent), whites (5.8 percent), blacks (12.4 percent), and Hispanics (7.9 percent) showed little or no change. The jobless rate for Asians was 5.4 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), at 3.7 million, changed little in March; these individuals accounted for 35.8 percent of the unemployed. The number of long-term unemployed was down by 837,000 over the year. (See table A-12.)

Both the civilian labor force and total employment increased in March. The labor force participation rate (63.2 percent) and the employment-population ratio (58.9 percent) changed little over the month. (See table A-1.) The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 7.4 million in March. These individuals were working part time because their hours had been cut back or because they were unable to find full-time work. (See table A-8.)

In March, 2.2 million persons were marginally attached to the labor force, little changed from 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 698,000 discouraged workers in March, down slightly 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 March had not searched for work for reasons such as school attendance or family responsibilities. (See table A-16.)

Establishment Survey Data

Total nonfarm payroll employment rose by 192,000 in March. Job growth averaged 183,000 per month over the prior 12 months. In March, employment grew in professional and business services, in health care, and in mining and logging. (See table B-1.)

Professional and business services added 57,000 jobs in March, in line with its average monthly gain of 56,000 over the prior 12 months. Within the industry, employment increased in March in temporary help services (+29,000), in computer systems design and related services (+6,000), and in architectural and engineering services (+5,000).

In March, health care added 19,000 jobs. Employment in ambulatory health care services rose by 20,000, with a gain of 9,000 jobs in home health care services. Nursing care facilities lost 5,000 jobs over the month. Job growth in health care averaged 17,000 per month over the prior 12 months.

Employment in mining and logging rose in March (+7,000), with the bulk of the increase occurring in support activities for mining (+5,000). Over the prior 12 months, the mining and logging industry added an average of 3,000 jobs per month.

Employment continued to trend up in March in food services and drinking places (+30,000). Over the past year, food services and drinking places has added 323,000 jobs.

Construction employment continued to trend up in March (+19,000). Over the past year, construction employment has risen by 151,000.

Employment in government was unchanged in March. A decline of 9,000 jobs in federal government was mostly offset by an increase of 8,000 jobs in local government, excluding education. Over the past year, employment in federal government has fallen by 85,000.

Employment in other major industries, including manufacturing, wholesale trade, retail trade, transportation and warehousing, information, and financial activities, changed little over the month.

The average workweek for all employees on private nonfarm payrolls increased by 0.2 hour in March to 34.5 hours, offsetting a net decline over the prior 3 months. The manufacturing workweek rose by 0.3 hour in March to 41.1 hours, and factory overtime rose by 0.1 hour to 3.5 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls increased by 0.3 hour to 33.7 hours. (See tables B-2 and B-7.)

In March, average hourly earnings for all employees on private nonfarm payrolls edged down by 1 cent to $24.30, following a 9 cent increase in February. Over the year, average hourly earnings have risen by 49 cents, or 2.1 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees edged down by 2 cents to $20.47. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for January was revised from +129,000 to +144,000, and the change for February was revised from +175,000 to +197,000. With these revisions, employment gains in January and February were 37,000 higher than previously reported.

Source: U.S. Bureau of Labor Statistics · Original release Apr 4, 2014.

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 earlierMar 5, 2014Publication referenceApr 4, 201430 days laterMay 4, 2014
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.37%Observed 4.41%Observed +4 bps vs. earlier reference4.29%Observed −12 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

Jan 4, 2014 – Jul 4, 2014
Historical mortgage and Treasury observations around Apr 4, 2014Each 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: 4.51% · Jan 9, 201430-year fixed mortgage: 4.41% · Jan 16, 201430-year fixed mortgage: 4.39% · Jan 23, 201430-year fixed mortgage: 4.32% · Jan 30, 201430-year fixed mortgage: 4.23% · Feb 6, 201430-year fixed mortgage: 4.28% · Feb 13, 201430-year fixed mortgage: 4.33% · Feb 20, 201430-year fixed mortgage: 4.37% · Feb 27, 201430-year fixed mortgage: 4.28% · Mar 6, 201430-year fixed mortgage: 4.37% · Mar 13, 201430-year fixed mortgage: 4.32% · Mar 20, 201430-year fixed mortgage: 4.40% · Mar 27, 201430-year fixed mortgage: 4.41% · Apr 3, 201430-year fixed mortgage: 4.34% · Apr 10, 201430-year fixed mortgage: 4.27% · Apr 17, 201430-year fixed mortgage: 4.33% · Apr 24, 201430-year fixed mortgage: 4.29% · May 1, 201430-year fixed mortgage: 4.21% · May 8, 201430-year fixed mortgage: 4.20% · May 15, 201430-year fixed mortgage: 4.14% · May 22, 201430-year fixed mortgage: 4.12% · May 29, 201430-year fixed mortgage: 4.14% · Jun 5, 201430-year fixed mortgage: 4.20% · Jun 12, 201430-year fixed mortgage: 4.17% · Jun 19, 201430-year fixed mortgage: 4.14% · Jun 26, 201430-year fixed mortgage: 4.12% · Jul 3, 2014Jan 4, 2014Apr 4, 2014Jul 4, 2014
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$1,504.06/month

4.41% · Apr 3, 2014

At the later reference$1,482.85/month

4.29% · May 1, 2014

The illustrative principal-and-interest payment is $21.20 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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