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Jobs · ORIGINAL ECONOMIC RELEASE

February 2017 Employment Situation

Total nonfarm payroll employment increased by 235,000 in February, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in construction, private…

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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Total nonfarm payroll employment increased by 235,000 in February, and the unemployment rate was little changed at 4.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment gains occurred in construction, private educational services, manufacturing, health care, and mining.

Household Survey Data

The number of unemployed persons, at 7.5 million, changed little in February. The unemployment rate, at 4.7 percent, was little changed over the month but was down from 4.9 percent a year earlier. (See table A-1.)

Among the major worker groups, the unemployment rate decreased for Whites to 4.1 percent in February, while the jobless rates for adult men (4.3 percent), adult women (4.3 percent), teenagers (15.0 percent), Blacks (8.1 percent), Asians (3.4 percent), and Hispanics (5.6 percent) showed little or no change. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 1.8 million in February and accounted for 23.8 percent of the unemployed. Over the year, the number of long-term unemployed was down by 358,000. (See table A-12.)

In February, the labor force participation rate, at 63.0 percent, and the employment-population ratio, at 60.0 percent, showed little change. (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 5.7 million in February. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find full-time jobs. (See table A-8.)

In February, 1.7 million persons were marginally attached to the labor force, little different 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 522,000 discouraged workers in February, little changed 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 1.2 million persons marginally attached to the labor force in February 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 increased by 235,000 in February. Job gains occurred in construction, private educational services, manufacturing, health care, and mining. (See table B-1.)

In February, construction employment increased by 58,000, with gains in specialty trade contractors (+36,000) and in heavy and civil engineering construction (+15,000). Construction has added 177,000 jobs over the past 6 months.

Employment in private educational services rose by 29,000 in February, following little change in the prior month (-5,000). Over the year, employment in the industry has grown by 105,000.

Manufacturing added 28,000 jobs in February. Employment rose in food manufacturing (+9,000) and machinery (+7,000) but fell in transportation equipment (-6,000). Over the past 3 months, manufacturing has added 57,000 jobs.

Health care employment rose by 27,000 in February, with a job gain in ambulatory health care services (+18,000). Over the year, health care has added an average of 30,000 jobs per month.

Employment in mining increased by 8,000 in February, with most of the gain occurring in support activities for mining (+6,000). Mining employment has risen by 20,000 since reaching a recent low in October 2016.

Employment in professional and business services continued to trend up in February (+37,000). The industry has added 597,000 jobs over the year.

Retail trade employment edged down in February (-26,000), following a gain of 40,000 in the prior month. Over the month, job losses occurred in general merchandise stores (-19,000); sporting goods, hobby, book, and music stores (-9,000); and electronics and appliance stores (-8,000).

Employment in other major industries, including wholesale trade, transportation and warehousing, information, financial activities, leisure and hospitality, and government, showed little or no change over the month.

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in February. In manufacturing, the workweek was unchanged at 40.8 hours, and overtime remained at 3.3 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls has been 33.6 hours since August 2016. (See tables B-2 and B-7.)

In February, average hourly earnings for all employees on private nonfarm payrolls increased by 6 cents to $26.09, following a 5-cent increase in January. Over the year, average hourly earnings have risen by 71 cents, or 2.8 percent. In February, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $21.86 in February. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for December was revised down from +157,000 to +155,000, and the change for January was revised up from +227,000 to +238,000. With these revisions, employment gains in December and January combined were 9,000 more than previously reported. Monthly revisions result from additional reports received from businesses since the last published estimates and from the recalculation of seasonal factors. Over the past 3 months, job gains have averaged 209,000 per month.

Source: U.S. Bureau of Labor Statistics · Original release Mar 10, 2017.

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 earlierFeb 8, 2017Publication referenceMar 10, 201730 days laterApr 9, 2017
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.19%Observed 4.21%Observed +2 bps vs. earlier reference4.10%Observed −11 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury2.34%Observed 2.58%Observed +24 bps vs. earlier reference2.38%Observed −20 bps vs. publication reference

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

Dec 10, 2016 – Jun 10, 2017
Historical mortgage and Treasury observations around Mar 10, 2017Each 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.2.00%3.25%4.50%Publication date30-year fixed mortgage: 4.16% · Dec 15, 201630-year fixed mortgage: 4.30% · Dec 22, 201630-year fixed mortgage: 4.32% · Dec 29, 201630-year fixed mortgage: 4.20% · Jan 5, 201730-year fixed mortgage: 4.12% · Jan 12, 201730-year fixed mortgage: 4.09% · Jan 19, 201730-year fixed mortgage: 4.19% · Jan 26, 201730-year fixed mortgage: 4.19% · Feb 2, 201730-year fixed mortgage: 4.17% · Feb 9, 201730-year fixed mortgage: 4.15% · Feb 16, 201730-year fixed mortgage: 4.16% · Feb 23, 201730-year fixed mortgage: 4.10% · Mar 2, 201730-year fixed mortgage: 4.21% · Mar 9, 201730-year fixed mortgage: 4.30% · Mar 16, 201730-year fixed mortgage: 4.23% · Mar 23, 201730-year fixed mortgage: 4.14% · Mar 30, 201730-year fixed mortgage: 4.10% · Apr 6, 201730-year fixed mortgage: 4.08% · Apr 13, 201730-year fixed mortgage: 3.97% · Apr 20, 201730-year fixed mortgage: 4.03% · Apr 27, 201730-year fixed mortgage: 4.02% · May 4, 201730-year fixed mortgage: 4.05% · May 11, 201730-year fixed mortgage: 4.02% · May 18, 201730-year fixed mortgage: 3.95% · May 25, 201730-year fixed mortgage: 3.94% · Jun 1, 201730-year fixed mortgage: 3.89% · Jun 8, 201710-year Treasury: 2.49% · Dec 12, 201610-year Treasury: 2.48% · Dec 13, 201610-year Treasury: 2.54% · Dec 14, 201610-year Treasury: 2.60% · Dec 15, 201610-year Treasury: 2.60% · Dec 16, 201610-year Treasury: 2.54% · Dec 19, 201610-year Treasury: 2.57% · Dec 20, 201610-year Treasury: 2.55% · Dec 21, 201610-year Treasury: 2.55% · Dec 22, 201610-year Treasury: 2.55% · Dec 23, 201610-year Treasury: 2.57% · Dec 27, 201610-year Treasury: 2.51% · Dec 28, 201610-year Treasury: 2.49% · Dec 29, 201610-year Treasury: 2.45% · Dec 30, 201610-year Treasury: 2.45% · Jan 3, 201710-year Treasury: 2.46% · Jan 4, 201710-year Treasury: 2.37% · Jan 5, 201710-year Treasury: 2.42% · Jan 6, 201710-year Treasury: 2.38% · Jan 9, 201710-year Treasury: 2.38% · Jan 10, 201710-year Treasury: 2.38% · Jan 11, 201710-year Treasury: 2.36% · Jan 12, 201710-year Treasury: 2.40% · Jan 13, 201710-year Treasury: 2.33% · Jan 17, 201710-year Treasury: 2.42% · Jan 18, 201710-year Treasury: 2.47% · Jan 19, 201710-year Treasury: 2.48% · Jan 20, 201710-year Treasury: 2.41% · Jan 23, 201710-year Treasury: 2.47% · Jan 24, 201710-year Treasury: 2.53% · Jan 25, 201710-year Treasury: 2.51% · Jan 26, 201710-year Treasury: 2.49% · Jan 27, 201710-year Treasury: 2.49% · Jan 30, 201710-year Treasury: 2.45% · Jan 31, 201710-year Treasury: 2.48% · Feb 1, 201710-year Treasury: 2.48% · Feb 2, 201710-year Treasury: 2.49% · Feb 3, 201710-year Treasury: 2.42% · Feb 6, 201710-year Treasury: 2.40% · Feb 7, 201710-year Treasury: 2.34% · Feb 8, 201710-year Treasury: 2.40% · Feb 9, 201710-year Treasury: 2.41% · Feb 10, 201710-year Treasury: 2.43% · Feb 13, 201710-year Treasury: 2.47% · Feb 14, 201710-year Treasury: 2.51% · Feb 15, 201710-year Treasury: 2.45% · Feb 16, 201710-year Treasury: 2.42% · Feb 17, 201710-year Treasury: 2.43% · Feb 21, 201710-year Treasury: 2.42% · Feb 22, 201710-year Treasury: 2.38% · Feb 23, 201710-year Treasury: 2.31% · Feb 24, 201710-year Treasury: 2.36% · Feb 27, 201710-year Treasury: 2.36% · Feb 28, 201710-year Treasury: 2.46% · Mar 1, 201710-year Treasury: 2.49% · Mar 2, 201710-year Treasury: 2.49% · Mar 3, 201710-year Treasury: 2.49% · Mar 6, 201710-year Treasury: 2.52% · Mar 7, 201710-year Treasury: 2.57% · Mar 8, 201710-year Treasury: 2.60% · Mar 9, 201710-year Treasury: 2.58% · Mar 10, 201710-year Treasury: 2.62% · Mar 13, 201710-year Treasury: 2.60% · Mar 14, 201710-year Treasury: 2.51% · Mar 15, 201710-year Treasury: 2.53% · Mar 16, 201710-year Treasury: 2.50% · Mar 17, 201710-year Treasury: 2.47% · Mar 20, 201710-year Treasury: 2.43% · Mar 21, 201710-year Treasury: 2.40% · Mar 22, 201710-year Treasury: 2.41% · Mar 23, 201710-year Treasury: 2.40% · Mar 24, 201710-year Treasury: 2.38% · Mar 27, 201710-year Treasury: 2.42% · Mar 28, 201710-year Treasury: 2.39% · Mar 29, 201710-year Treasury: 2.42% · Mar 30, 201710-year Treasury: 2.40% · Mar 31, 201710-year Treasury: 2.35% · Apr 3, 201710-year Treasury: 2.36% · Apr 4, 201710-year Treasury: 2.34% · Apr 5, 201710-year Treasury: 2.34% · Apr 6, 201710-year Treasury: 2.38% · Apr 7, 201710-year Treasury: 2.37% · Apr 10, 201710-year Treasury: 2.32% · Apr 11, 201710-year Treasury: 2.28% · Apr 12, 201710-year Treasury: 2.24% · Apr 13, 201710-year Treasury: 2.26% · Apr 17, 201710-year Treasury: 2.18% · Apr 18, 201710-year Treasury: 2.21% · Apr 19, 201710-year Treasury: 2.24% · Apr 20, 201710-year Treasury: 2.24% · Apr 21, 201710-year Treasury: 2.28% · Apr 24, 201710-year Treasury: 2.35% · Apr 25, 201710-year Treasury: 2.32% · Apr 26, 201710-year Treasury: 2.30% · Apr 27, 201710-year Treasury: 2.29% · Apr 28, 201710-year Treasury: 2.33% · May 1, 201710-year Treasury: 2.29% · May 2, 201710-year Treasury: 2.33% · May 3, 201710-year Treasury: 2.36% · May 4, 201710-year Treasury: 2.36% · May 5, 201710-year Treasury: 2.39% · May 8, 201710-year Treasury: 2.42% · May 9, 201710-year Treasury: 2.41% · May 10, 201710-year Treasury: 2.39% · May 11, 201710-year Treasury: 2.33% · May 12, 201710-year Treasury: 2.34% · May 15, 201710-year Treasury: 2.33% · May 16, 201710-year Treasury: 2.22% · May 17, 201710-year Treasury: 2.23% · May 18, 201710-year Treasury: 2.23% · May 19, 201710-year Treasury: 2.25% · May 22, 201710-year Treasury: 2.29% · May 23, 201710-year Treasury: 2.26% · May 24, 201710-year Treasury: 2.25% · May 25, 201710-year Treasury: 2.25% · May 26, 201710-year Treasury: 2.21% · May 30, 201710-year Treasury: 2.21% · May 31, 201710-year Treasury: 2.21% · Jun 1, 201710-year Treasury: 2.15% · Jun 2, 201710-year Treasury: 2.18% · Jun 5, 201710-year Treasury: 2.14% · Jun 6, 201710-year Treasury: 2.18% · Jun 7, 201710-year Treasury: 2.19% · Jun 8, 201710-year Treasury: 2.21% · Jun 9, 2017Dec 10, 2016Mar 10, 2017Jun 10, 2017
30-year fixed mortgage26 observations10-year Treasury124 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$1,468.80/month

4.21% · Mar 9, 2017

At the later reference$1,449.60/month

4.10% · Apr 6, 2017

The illustrative principal-and-interest payment is $19.21 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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