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

Jobs · ORIGINAL ECONOMIC RELEASE

April 2018 Employment Situation

Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services,…

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.

Total nonfarm payroll employment increased by 164,000 in April, and the unemployment rate edged down to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, health care, and mining.

Household Survey Data

In April, the unemployment rate edged down to 3.9 percent, following 6 months at 4.1 percent. The number of unemployed persons, at 6.3 million, also edged down over the month. (See table A-1.)

Among the major worker groups, the unemployment rate for adult women decreased to 3.5 percent in April. The jobless rates for adult men (3.7 percent), teenagers (12.9 percent), Whites (3.6 percent), Blacks (6.6 percent), Asians (2.8 percent), and Hispanics (4.8 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

Among the unemployed, the number of job losers and persons who completed temporary jobs declined by 188,000 in April to 3.0 million. (See table A-11.)

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 1.3 million in April and accounted for 20.0 percent of the unemployed. Over the year, the number of long-term unemployed was down by 340,000. (See table A-12.)

Both the labor force participation rate, at 62.8 percent, and the employment- population ratio, at 60.3 percent, changed little in April. (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 at 5.0 million in April. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or because they were unable to find full-time jobs. (See table A-8.)

In April, 1.4 million persons were marginally attached to the labor force, down by 172,000 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 408,000 discouraged workers in April, 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 1.0 million persons marginally attached to the labor force in April 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 164,000 in April, compared with an average monthly gain of 191,000 over the prior 12 months. In April, job gains occurred in professional and business services, manufacturing, health care, and mining. (See table B-1.)

In April, employment in professional and business services increased by 54,000. Over the past 12 months, the industry has added 518,000 jobs.

Employment in manufacturing increased by 24,000 in April. Most of the gain was in the durable goods component, with machinery adding 8,000 jobs and employment in fabricated metal products continuing to trend up (+4,000). Manufacturing employment has risen by 245,000 over the year, with about three-fourths of the growth in durable goods industries.

Health care added 24,000 jobs in April and 305,000 jobs over the year. In April, employment rose in ambulatory health care services (+17,000) and hospitals (+8,000).

In April, employment in mining increased by 8,000, with most of the gain occurring in support activities for mining (+7,000). Since a recent low in October 2016, employment in mining has risen by 86,000.

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

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.5 hours in April. In manufacturing, the workweek increased by 0.2 hour to 41.1 hours, while overtime edged up by 0.1 hour to 3.7 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls increased by 0.1 hour to 33.8 hours. (See tables B-2 and B-7.)

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 4 cents to $26.84. Over the year, average hourly earnings have increased by 67 cents, or 2.6 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 5 cents to $22.51 in April. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for February was revised down from +326,000 to +324,000, and the change for March was revised up from +103,000 to +135,000. With these revisions, employment gains in February and March combined were 30,000 more than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.) After revisions, job gains have averaged 208,000 over the last 3 months.

Source: U.S. Bureau of Labor Statistics · Original release May 4, 2018.

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 earlierApr 4, 2018Publication referenceMay 4, 201830 days laterJun 3, 2018
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.44%Observed 4.55%Observed +11 bps vs. earlier reference4.56%Observed +1 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury2.79%Observed 2.95%Observed +16 bps vs. earlier reference2.89%Observed −6 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

Feb 4, 2018 – Aug 4, 2018
Historical mortgage and Treasury observations around May 4, 2018Each 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.2.50%3.75%5.00%Publication date30-year fixed mortgage: 4.32% · Feb 8, 201830-year fixed mortgage: 4.38% · Feb 15, 201830-year fixed mortgage: 4.40% · Feb 22, 201830-year fixed mortgage: 4.43% · Mar 1, 201830-year fixed mortgage: 4.46% · Mar 8, 201830-year fixed mortgage: 4.44% · Mar 15, 201830-year fixed mortgage: 4.45% · Mar 22, 201830-year fixed mortgage: 4.44% · Mar 29, 201830-year fixed mortgage: 4.40% · Apr 5, 201830-year fixed mortgage: 4.42% · Apr 12, 201830-year fixed mortgage: 4.47% · Apr 19, 201830-year fixed mortgage: 4.58% · Apr 26, 201830-year fixed mortgage: 4.55% · May 3, 201830-year fixed mortgage: 4.55% · May 10, 201830-year fixed mortgage: 4.61% · May 17, 201830-year fixed mortgage: 4.66% · May 24, 201830-year fixed mortgage: 4.56% · May 31, 201830-year fixed mortgage: 4.54% · Jun 7, 201830-year fixed mortgage: 4.62% · Jun 14, 201830-year fixed mortgage: 4.57% · Jun 21, 201830-year fixed mortgage: 4.55% · Jun 28, 201830-year fixed mortgage: 4.52% · Jul 5, 201830-year fixed mortgage: 4.53% · Jul 12, 201830-year fixed mortgage: 4.52% · Jul 19, 201830-year fixed mortgage: 4.54% · Jul 26, 201830-year fixed mortgage: 4.60% · Aug 2, 201810-year Treasury: 2.77% · Feb 5, 201810-year Treasury: 2.79% · Feb 6, 201810-year Treasury: 2.84% · Feb 7, 201810-year Treasury: 2.85% · Feb 8, 201810-year Treasury: 2.83% · Feb 9, 201810-year Treasury: 2.86% · Feb 12, 201810-year Treasury: 2.83% · Feb 13, 201810-year Treasury: 2.91% · Feb 14, 201810-year Treasury: 2.90% · Feb 15, 201810-year Treasury: 2.87% · Feb 16, 201810-year Treasury: 2.88% · Feb 20, 201810-year Treasury: 2.94% · Feb 21, 201810-year Treasury: 2.92% · Feb 22, 201810-year Treasury: 2.88% · Feb 23, 201810-year Treasury: 2.86% · Feb 26, 201810-year Treasury: 2.90% · Feb 27, 201810-year Treasury: 2.87% · Feb 28, 201810-year Treasury: 2.81% · Mar 1, 201810-year Treasury: 2.86% · Mar 2, 201810-year Treasury: 2.88% · Mar 5, 201810-year Treasury: 2.88% · Mar 6, 201810-year Treasury: 2.89% · Mar 7, 201810-year Treasury: 2.86% · Mar 8, 201810-year Treasury: 2.90% · Mar 9, 201810-year Treasury: 2.87% · Mar 12, 201810-year Treasury: 2.84% · Mar 13, 201810-year Treasury: 2.81% · Mar 14, 201810-year Treasury: 2.82% · Mar 15, 201810-year Treasury: 2.85% · Mar 16, 201810-year Treasury: 2.85% · Mar 19, 201810-year Treasury: 2.89% · Mar 20, 201810-year Treasury: 2.89% · Mar 21, 201810-year Treasury: 2.83% · Mar 22, 201810-year Treasury: 2.82% · Mar 23, 201810-year Treasury: 2.85% · Mar 26, 201810-year Treasury: 2.78% · Mar 27, 201810-year Treasury: 2.77% · Mar 28, 201810-year Treasury: 2.74% · Mar 29, 201810-year Treasury: 2.73% · Apr 2, 201810-year Treasury: 2.79% · Apr 3, 201810-year Treasury: 2.79% · Apr 4, 201810-year Treasury: 2.83% · Apr 5, 201810-year Treasury: 2.77% · Apr 6, 201810-year Treasury: 2.78% · Apr 9, 201810-year Treasury: 2.80% · Apr 10, 201810-year Treasury: 2.79% · Apr 11, 201810-year Treasury: 2.83% · Apr 12, 201810-year Treasury: 2.82% · Apr 13, 201810-year Treasury: 2.83% · Apr 16, 201810-year Treasury: 2.82% · Apr 17, 201810-year Treasury: 2.87% · Apr 18, 201810-year Treasury: 2.92% · Apr 19, 201810-year Treasury: 2.96% · Apr 20, 201810-year Treasury: 2.98% · Apr 23, 201810-year Treasury: 3.00% · Apr 24, 201810-year Treasury: 3.03% · Apr 25, 201810-year Treasury: 3.00% · Apr 26, 201810-year Treasury: 2.96% · Apr 27, 201810-year Treasury: 2.95% · Apr 30, 201810-year Treasury: 2.97% · May 1, 201810-year Treasury: 2.97% · May 2, 201810-year Treasury: 2.94% · May 3, 201810-year Treasury: 2.95% · May 4, 201810-year Treasury: 2.95% · May 7, 201810-year Treasury: 2.97% · May 8, 201810-year Treasury: 3.00% · May 9, 201810-year Treasury: 2.97% · May 10, 201810-year Treasury: 2.97% · May 11, 201810-year Treasury: 3.00% · May 14, 201810-year Treasury: 3.08% · May 15, 201810-year Treasury: 3.09% · May 16, 201810-year Treasury: 3.11% · May 17, 201810-year Treasury: 3.06% · May 18, 201810-year Treasury: 3.06% · May 21, 201810-year Treasury: 3.06% · May 22, 201810-year Treasury: 3.01% · May 23, 201810-year Treasury: 2.98% · May 24, 201810-year Treasury: 2.93% · May 25, 201810-year Treasury: 2.77% · May 29, 201810-year Treasury: 2.84% · May 30, 201810-year Treasury: 2.83% · May 31, 201810-year Treasury: 2.89% · Jun 1, 201810-year Treasury: 2.94% · Jun 4, 201810-year Treasury: 2.92% · Jun 5, 201810-year Treasury: 2.97% · Jun 6, 201810-year Treasury: 2.93% · Jun 7, 201810-year Treasury: 2.93% · Jun 8, 201810-year Treasury: 2.96% · Jun 11, 201810-year Treasury: 2.96% · Jun 12, 201810-year Treasury: 2.98% · Jun 13, 201810-year Treasury: 2.94% · Jun 14, 201810-year Treasury: 2.93% · Jun 15, 201810-year Treasury: 2.92% · Jun 18, 201810-year Treasury: 2.89% · Jun 19, 201810-year Treasury: 2.93% · Jun 20, 201810-year Treasury: 2.90% · Jun 21, 201810-year Treasury: 2.90% · Jun 22, 201810-year Treasury: 2.87% · Jun 25, 201810-year Treasury: 2.88% · Jun 26, 201810-year Treasury: 2.83% · Jun 27, 201810-year Treasury: 2.84% · Jun 28, 201810-year Treasury: 2.85% · Jun 29, 201810-year Treasury: 2.87% · Jul 2, 201810-year Treasury: 2.83% · Jul 3, 201810-year Treasury: 2.84% · Jul 5, 201810-year Treasury: 2.82% · Jul 6, 201810-year Treasury: 2.86% · Jul 9, 201810-year Treasury: 2.87% · Jul 10, 201810-year Treasury: 2.85% · Jul 11, 201810-year Treasury: 2.85% · Jul 12, 201810-year Treasury: 2.83% · Jul 13, 201810-year Treasury: 2.85% · Jul 16, 201810-year Treasury: 2.86% · Jul 17, 201810-year Treasury: 2.88% · Jul 18, 201810-year Treasury: 2.84% · Jul 19, 201810-year Treasury: 2.89% · Jul 20, 201810-year Treasury: 2.96% · Jul 23, 201810-year Treasury: 2.95% · Jul 24, 201810-year Treasury: 2.94% · Jul 25, 201810-year Treasury: 2.98% · Jul 26, 201810-year Treasury: 2.96% · Jul 27, 201810-year Treasury: 2.98% · Jul 30, 201810-year Treasury: 2.96% · Jul 31, 201810-year Treasury: 3.00% · Aug 1, 201810-year Treasury: 2.98% · Aug 2, 201810-year Treasury: 2.95% · Aug 3, 2018Feb 4, 2018May 4, 2018Aug 4, 2018
30-year fixed mortgage26 observations10-year Treasury126 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% · May 3, 2018

At the later reference$1,530.77/month

4.56% · May 31, 2018

The illustrative principal-and-interest payment is $1.79 higher 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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