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

Jobs · ORIGINAL ECONOMIC RELEASE

November 2018 Employment Situation

Total nonfarm payroll employment increased by 155,000 in November, and the unemployment rate remained unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, and…

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 155,000 in November, and the unemployment rate remained unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, and in transportation and warehousing.

Household Survey Data

In November, the unemployment rate was 3.7 percent for the third month in a row, and the number of unemployed persons was little changed at 6.0 million. Over the year, the unemployment rate and the number of unemployed persons declined by 0.4 percentage point and 641,000, respectively. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (3.3 percent), adult women (3.4 percent), teenagers (12.0 percent), Whites (3.4 percent), Blacks (5.9 percent), Asians (2.7 percent), and Hispanics (4.5 percent) showed little or no change in November. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more) declined by 120,000 to 1.3 million in November. These individuals accounted for 20.8 percent of the unemployed. (See table A-12.)

Both the labor force participation rate, at 62.9 percent, and the employment-population ratio, at 60.6 percent, were unchanged 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 4.8 million, changed little in November. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. (See table A-8.)

In November, 1.7 million persons were marginally attached to the labor force, an increase of 197,000 from a year earlier. (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 453,000 discouraged workers in November, essentially unchanged from a year earlier. (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 November 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 155,000 in November, compared with an average monthly gain of 209,000 over the prior 12 months. In November, job gains occurred in health care, in manufacturing, and in transportation and warehousing. (See table B-1.)

Health care employment rose by 32,000 in November. Within the industry, job gains occurred in ambulatory health care services (+19,000) and hospitals (+13,000). Over the year, health care has added 328,000 jobs.

In November, manufacturing added 27,000 jobs, with increases in chemicals (+6,000) and primary metals (+3,000). Manufacturing employment has increased by 288,000 over the year, largely in durable goods industries.

Employment in transportation and warehousing rose by 25,000 in November. Job gains occurred in couriers and messengers (+10,000) and in warehousing and storage (+6,000). Over the year, transportation and warehousing has added 192,000 jobs.

In November, employment in professional and business services continued on an upward trend (+32,000). The industry has added 561,000 jobs over the year.

Retail trade employment changed little in November (+18,000). Job growth occurred in general merchandise stores (+39,000) and miscellaneous store retailers (+10,000). These gains were offset, in part, by declines in clothing and clothing accessories stores (-14,000); electronics and appliance stores(-11,000); and sporting goods, hobby, and book stores (-11,000).

Employment in other major industries--including mining, construction, wholesale trade, information, financial activities, leisure and hospitality, and government--showed little change over the month.

The average workweek for all employees on private nonfarm payrolls decreased by 0.1 hour to 34.4 hours in November. In manufacturing, both the workweek and overtime were unchanged (40.8 hours and 3.5 hours, respectively). The average workweek for production and nonsupervisory employees on private nonfarm payrolls held at 33.7 hours. (See tables B-2 and B-7.)

In November, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents to $27.35. Over the year, average hourly earnings have increased by 81 cents, or 3.1 percent. Average hourly earnings of private-sector production and nonsupervisory employees increased by 7 cents to $22.95 in November. (See tables B-3 and B-8.)

The change in total nonfarm payroll employment for October was revised down from +250,000 to +237,000, and the change for September was revised up from +118,000 to +119,000. With these revisions, employment gains in September and October combined were 12,000 less 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 170,000 per month over the last 3 months.

Source: U.S. Bureau of Labor Statistics · Original release Dec 7, 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 earlierNov 7, 2018Publication referenceDec 7, 201830 days laterJan 6, 2019
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®4.83%Observed 4.75%Observed −8 bps vs. earlier reference4.51%Observed −24 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury3.22%Observed 2.85%Observed −37 bps vs. earlier reference2.67%Observed −18 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

Sep 7, 2018 – Mar 7, 2019
Historical mortgage and Treasury observations around Dec 7, 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: 4.60% · Sep 13, 201830-year fixed mortgage: 4.65% · Sep 20, 201830-year fixed mortgage: 4.72% · Sep 27, 201830-year fixed mortgage: 4.71% · Oct 4, 201830-year fixed mortgage: 4.90% · Oct 11, 201830-year fixed mortgage: 4.85% · Oct 18, 201830-year fixed mortgage: 4.86% · Oct 25, 201830-year fixed mortgage: 4.83% · Nov 1, 201830-year fixed mortgage: 4.94% · Nov 8, 201830-year fixed mortgage: 4.94% · Nov 15, 201830-year fixed mortgage: 4.81% · Nov 21, 201830-year fixed mortgage: 4.81% · Nov 29, 201830-year fixed mortgage: 4.75% · Dec 6, 201830-year fixed mortgage: 4.63% · Dec 13, 201830-year fixed mortgage: 4.62% · Dec 20, 201830-year fixed mortgage: 4.55% · Dec 27, 201830-year fixed mortgage: 4.51% · Jan 3, 201930-year fixed mortgage: 4.45% · Jan 10, 201930-year fixed mortgage: 4.45% · Jan 17, 201930-year fixed mortgage: 4.45% · Jan 24, 201930-year fixed mortgage: 4.46% · Jan 31, 201930-year fixed mortgage: 4.41% · Feb 7, 201930-year fixed mortgage: 4.37% · Feb 14, 201930-year fixed mortgage: 4.35% · Feb 21, 201930-year fixed mortgage: 4.35% · Feb 28, 201930-year fixed mortgage: 4.41% · Mar 7, 201910-year Treasury: 2.94% · Sep 7, 201810-year Treasury: 2.94% · Sep 10, 201810-year Treasury: 2.98% · Sep 11, 201810-year Treasury: 2.97% · Sep 12, 201810-year Treasury: 2.97% · Sep 13, 201810-year Treasury: 2.99% · Sep 14, 201810-year Treasury: 2.99% · Sep 17, 201810-year Treasury: 3.05% · Sep 18, 201810-year Treasury: 3.08% · Sep 19, 201810-year Treasury: 3.07% · Sep 20, 201810-year Treasury: 3.07% · Sep 21, 201810-year Treasury: 3.08% · Sep 24, 201810-year Treasury: 3.10% · Sep 25, 201810-year Treasury: 3.06% · Sep 26, 201810-year Treasury: 3.06% · Sep 27, 201810-year Treasury: 3.05% · Sep 28, 201810-year Treasury: 3.09% · Oct 1, 201810-year Treasury: 3.05% · Oct 2, 201810-year Treasury: 3.15% · Oct 3, 201810-year Treasury: 3.19% · Oct 4, 201810-year Treasury: 3.23% · Oct 5, 201810-year Treasury: 3.21% · Oct 9, 201810-year Treasury: 3.22% · Oct 10, 201810-year Treasury: 3.14% · Oct 11, 201810-year Treasury: 3.15% · Oct 12, 201810-year Treasury: 3.16% · Oct 15, 201810-year Treasury: 3.16% · Oct 16, 201810-year Treasury: 3.19% · Oct 17, 201810-year Treasury: 3.17% · Oct 18, 201810-year Treasury: 3.20% · Oct 19, 201810-year Treasury: 3.20% · Oct 22, 201810-year Treasury: 3.17% · Oct 23, 201810-year Treasury: 3.10% · Oct 24, 201810-year Treasury: 3.14% · Oct 25, 201810-year Treasury: 3.08% · Oct 26, 201810-year Treasury: 3.08% · Oct 29, 201810-year Treasury: 3.12% · Oct 30, 201810-year Treasury: 3.15% · Oct 31, 201810-year Treasury: 3.14% · Nov 1, 201810-year Treasury: 3.22% · Nov 2, 201810-year Treasury: 3.20% · Nov 5, 201810-year Treasury: 3.22% · Nov 6, 201810-year Treasury: 3.22% · Nov 7, 201810-year Treasury: 3.24% · Nov 8, 201810-year Treasury: 3.19% · Nov 9, 201810-year Treasury: 3.14% · Nov 13, 201810-year Treasury: 3.12% · Nov 14, 201810-year Treasury: 3.11% · Nov 15, 201810-year Treasury: 3.08% · Nov 16, 201810-year Treasury: 3.06% · Nov 19, 201810-year Treasury: 3.06% · Nov 20, 201810-year Treasury: 3.06% · Nov 21, 201810-year Treasury: 3.05% · Nov 23, 201810-year Treasury: 3.07% · Nov 26, 201810-year Treasury: 3.06% · Nov 27, 201810-year Treasury: 3.06% · Nov 28, 201810-year Treasury: 3.03% · Nov 29, 201810-year Treasury: 3.01% · Nov 30, 201810-year Treasury: 2.98% · Dec 3, 201810-year Treasury: 2.91% · Dec 4, 201810-year Treasury: 2.87% · Dec 6, 201810-year Treasury: 2.85% · Dec 7, 201810-year Treasury: 2.85% · Dec 10, 201810-year Treasury: 2.89% · Dec 11, 201810-year Treasury: 2.91% · Dec 12, 201810-year Treasury: 2.91% · Dec 13, 201810-year Treasury: 2.89% · Dec 14, 201810-year Treasury: 2.86% · Dec 17, 201810-year Treasury: 2.82% · Dec 18, 201810-year Treasury: 2.77% · Dec 19, 201810-year Treasury: 2.79% · Dec 20, 201810-year Treasury: 2.79% · Dec 21, 201810-year Treasury: 2.74% · Dec 24, 201810-year Treasury: 2.81% · Dec 26, 201810-year Treasury: 2.77% · Dec 27, 201810-year Treasury: 2.72% · Dec 28, 201810-year Treasury: 2.69% · Dec 31, 201810-year Treasury: 2.66% · Jan 2, 201910-year Treasury: 2.56% · Jan 3, 201910-year Treasury: 2.67% · Jan 4, 201910-year Treasury: 2.70% · Jan 7, 201910-year Treasury: 2.73% · Jan 8, 201910-year Treasury: 2.74% · Jan 9, 201910-year Treasury: 2.74% · Jan 10, 201910-year Treasury: 2.71% · Jan 11, 201910-year Treasury: 2.71% · Jan 14, 201910-year Treasury: 2.72% · Jan 15, 201910-year Treasury: 2.73% · Jan 16, 201910-year Treasury: 2.75% · Jan 17, 201910-year Treasury: 2.79% · Jan 18, 201910-year Treasury: 2.74% · Jan 22, 201910-year Treasury: 2.76% · Jan 23, 201910-year Treasury: 2.72% · Jan 24, 201910-year Treasury: 2.76% · Jan 25, 201910-year Treasury: 2.75% · Jan 28, 201910-year Treasury: 2.72% · Jan 29, 201910-year Treasury: 2.70% · Jan 30, 201910-year Treasury: 2.63% · Jan 31, 201910-year Treasury: 2.70% · Feb 1, 201910-year Treasury: 2.73% · Feb 4, 201910-year Treasury: 2.71% · Feb 5, 201910-year Treasury: 2.70% · Feb 6, 201910-year Treasury: 2.65% · Feb 7, 201910-year Treasury: 2.63% · Feb 8, 201910-year Treasury: 2.65% · Feb 11, 201910-year Treasury: 2.68% · Feb 12, 201910-year Treasury: 2.71% · Feb 13, 201910-year Treasury: 2.66% · Feb 14, 201910-year Treasury: 2.66% · Feb 15, 201910-year Treasury: 2.65% · Feb 19, 201910-year Treasury: 2.65% · Feb 20, 201910-year Treasury: 2.69% · Feb 21, 201910-year Treasury: 2.65% · Feb 22, 201910-year Treasury: 2.67% · Feb 25, 201910-year Treasury: 2.64% · Feb 26, 201910-year Treasury: 2.69% · Feb 27, 201910-year Treasury: 2.73% · Feb 28, 201910-year Treasury: 2.76% · Mar 1, 201910-year Treasury: 2.72% · Mar 4, 201910-year Treasury: 2.72% · Mar 5, 201910-year Treasury: 2.69% · Mar 6, 201910-year Treasury: 2.64% · Mar 7, 2019Sep 7, 2018Dec 7, 2018Mar 7, 2019
30-year fixed mortgage26 observations10-year Treasury122 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$1,564.94/month

4.75% · Dec 6, 2018

At the later reference$1,521.84/month

4.51% · Jan 3, 2019

The illustrative principal-and-interest payment is $43.10 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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