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

Jobs · ORIGINAL ECONOMIC RELEASE

April 2023 Employment Situation

Total nonfarm payroll employment rose by 253,000 in April, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in 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.

Total nonfarm payroll employment rose by 253,000 in April, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, health care, leisure and hospitality, and social assistance.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm employment, hours, and earnings by industry. For more information about the concepts and statistical methodology used in these two surveys, see the Technical Note.

Household Survey Data

Both the unemployment rate, at 3.4 percent, and the number of unemployed persons, at 5.7 million, changed little in April. The unemployment rate has ranged from 3.4 percent to 3.7 percent since March 2022. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (3.3 percent), adult women (3.1 percent), teenagers (9.2 percent), Whites (3.1 percent), Blacks (4.7 percent), Asians (2.8 percent), and Hispanics (4.4 percent) showed little or no change in April. (See tables A-1, A-2, and A-3.)

The number of job losers and persons who completed temporary jobs decreased by 307,000 in April to 2.6 million. (See table A-11.)

The number of persons jobless less than 5 weeks decreased by 406,000 to 1.9 million in April. The number of long-term unemployed (those jobless for 27 weeks or more) changed little over the month at 1.2 million and accounted for 20.6 percent of the total unemployed. (See table A-12.)

Both the labor force participation rate, at 62.6 percent, and the employment-population ratio, at 60.4 percent, were unchanged in April. These measures remain below their pre-pandemic February 2020 levels (63.3 percent and 61.1 percent, respectively). (See table A-1.)

The number of persons employed part time for economic reasons, at 3.9 million, was little changed in April. 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.)

The number of persons not in the labor force who currently want a job increased by 346,000 over the month to 5.3 million. These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job. (See table A-1.)

Among those not in the labor force who wanted a job, the number of persons marginally attached to the labor force increased by 191,000 to 1.5 million in April. These individuals wanted and were available for work and had looked for a job sometime in the prior 12 months but had not looked for work in the 4 weeks preceding the survey. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed over the month at 364,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 253,000 in April, compared with the average monthly gain of 290,000 over the prior 6 months. In April, employment continued to trend up in professional and business services, health care, leisure and hospitality, and social assistance. (See table B-1.)

In April, employment continued to trend up in professional and business services (+43,000). Over the prior 6 months, the average monthly gain in the industry was 25,000. In April, professional, scientific, and technical services added 45,000 jobs. Employment in temporary help services continued to trend down over the month (-23,000) and is down by 174,000 since its peak in March 2022.

Employment in health care increased by 40,000 in April, compared with the average monthly gain of 47,000 over the prior 6 months. Over the month, employment continued to trend up in ambulatory health care services (+24,000), nursing and residential care facilities (+9,000), and hospitals (+7,000).

Employment in leisure and hospitality continued to trend up in April (+31,000), largely in food services and drinking places (+25,000). Leisure and hospitality had added an average of 73,000 jobs per month over the prior 6 months. Employment in this industry remains below its pre-pandemic February 2020 level by 402,000, or 2.4 percent.

In April, social assistance added 25,000 jobs, in line with the average monthly gain of 21,000 over the prior 6 months. Individual and family services added 21,000 jobs over the month.

Employment in financial activities increased by 23,000 in April, with gains in insurance carriers and related activities (+15,000) and in real estate (+9,000). Employment in financial activities changed little in the first 3 months of this year.

Government employment continued its upward trend in April (+23,000). Government had added an average of 52,000 jobs per month over the prior 6 months. Overall, employment in government is below its February 2020 level by 301,000, or 1.3 percent.

Employment in mining, quarrying, and oil and gas extraction rose by 6,000 in April and has risen by 102,000 since a recent low in February 2021. Nearly all of the April job gain occurred in support activities for mining.

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

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 16 cents, or 0.5 percent, to $33.36. Over the past 12 months, average hourly earnings have increased by 4.4 percent. In April, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.4 percent, to $28.62. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in April. In manufacturing, the average workweek was little changed at 40.2 hours, and overtime remained at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.8 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for February was revised down by 78,000, from +326,000 to +248,000, and the change for March was revised down by 71,000, from +236,000 to +165,000. With these revisions, employment in February and March combined is 149,000 lower 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.)

Source: U.S. Bureau of Labor Statistics · Original release May 5, 2023.

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 5, 2023Publication referenceMay 5, 202330 days laterJun 4, 2023
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.32%Observed 6.39%Observed +7 bps vs. earlier reference6.79%Observed +40 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury3.30%Observed 3.44%Observed +14 bps vs. earlier reference3.69%Observed +25 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 5, 2023 – Aug 5, 2023
Historical mortgage and Treasury observations around May 5, 2023Each 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%5.00%7.00%Publication date30-year fixed mortgage: 6.12% · Feb 9, 202330-year fixed mortgage: 6.32% · Feb 16, 202330-year fixed mortgage: 6.50% · Feb 23, 202330-year fixed mortgage: 6.65% · Mar 2, 202330-year fixed mortgage: 6.73% · Mar 9, 202330-year fixed mortgage: 6.60% · Mar 16, 202330-year fixed mortgage: 6.42% · Mar 23, 202330-year fixed mortgage: 6.32% · Mar 30, 202330-year fixed mortgage: 6.28% · Apr 6, 202330-year fixed mortgage: 6.27% · Apr 13, 202330-year fixed mortgage: 6.39% · Apr 20, 202330-year fixed mortgage: 6.43% · Apr 27, 202330-year fixed mortgage: 6.39% · May 4, 202330-year fixed mortgage: 6.35% · May 11, 202330-year fixed mortgage: 6.39% · May 18, 202330-year fixed mortgage: 6.57% · May 25, 202330-year fixed mortgage: 6.79% · Jun 1, 202330-year fixed mortgage: 6.71% · Jun 8, 202330-year fixed mortgage: 6.69% · Jun 15, 202330-year fixed mortgage: 6.67% · Jun 22, 202330-year fixed mortgage: 6.71% · Jun 29, 202330-year fixed mortgage: 6.81% · Jul 6, 202330-year fixed mortgage: 6.96% · Jul 13, 202330-year fixed mortgage: 6.78% · Jul 20, 202330-year fixed mortgage: 6.81% · Jul 27, 202330-year fixed mortgage: 6.90% · Aug 3, 202310-year Treasury: 3.63% · Feb 6, 202310-year Treasury: 3.67% · Feb 7, 202310-year Treasury: 3.63% · Feb 8, 202310-year Treasury: 3.67% · Feb 9, 202310-year Treasury: 3.74% · Feb 10, 202310-year Treasury: 3.72% · Feb 13, 202310-year Treasury: 3.77% · Feb 14, 202310-year Treasury: 3.81% · Feb 15, 202310-year Treasury: 3.86% · Feb 16, 202310-year Treasury: 3.82% · Feb 17, 202310-year Treasury: 3.95% · Feb 21, 202310-year Treasury: 3.93% · Feb 22, 202310-year Treasury: 3.88% · Feb 23, 202310-year Treasury: 3.95% · Feb 24, 202310-year Treasury: 3.92% · Feb 27, 202310-year Treasury: 3.92% · Feb 28, 202310-year Treasury: 4.01% · Mar 1, 202310-year Treasury: 4.08% · Mar 2, 202310-year Treasury: 3.97% · Mar 3, 202310-year Treasury: 3.98% · Mar 6, 202310-year Treasury: 3.97% · Mar 7, 202310-year Treasury: 3.98% · Mar 8, 202310-year Treasury: 3.93% · Mar 9, 202310-year Treasury: 3.70% · Mar 10, 202310-year Treasury: 3.55% · Mar 13, 202310-year Treasury: 3.64% · Mar 14, 202310-year Treasury: 3.51% · Mar 15, 202310-year Treasury: 3.56% · Mar 16, 202310-year Treasury: 3.39% · Mar 17, 202310-year Treasury: 3.47% · Mar 20, 202310-year Treasury: 3.59% · Mar 21, 202310-year Treasury: 3.48% · Mar 22, 202310-year Treasury: 3.38% · Mar 23, 202310-year Treasury: 3.38% · Mar 24, 202310-year Treasury: 3.53% · Mar 27, 202310-year Treasury: 3.55% · Mar 28, 202310-year Treasury: 3.57% · Mar 29, 202310-year Treasury: 3.55% · Mar 30, 202310-year Treasury: 3.48% · Mar 31, 202310-year Treasury: 3.43% · Apr 3, 202310-year Treasury: 3.35% · Apr 4, 202310-year Treasury: 3.30% · Apr 5, 202310-year Treasury: 3.30% · Apr 6, 202310-year Treasury: 3.39% · Apr 7, 202310-year Treasury: 3.41% · Apr 10, 202310-year Treasury: 3.43% · Apr 11, 202310-year Treasury: 3.41% · Apr 12, 202310-year Treasury: 3.45% · Apr 13, 202310-year Treasury: 3.52% · Apr 14, 202310-year Treasury: 3.60% · Apr 17, 202310-year Treasury: 3.58% · Apr 18, 202310-year Treasury: 3.60% · Apr 19, 202310-year Treasury: 3.54% · Apr 20, 202310-year Treasury: 3.57% · Apr 21, 202310-year Treasury: 3.52% · Apr 24, 202310-year Treasury: 3.40% · Apr 25, 202310-year Treasury: 3.43% · Apr 26, 202310-year Treasury: 3.53% · Apr 27, 202310-year Treasury: 3.44% · Apr 28, 202310-year Treasury: 3.59% · May 1, 202310-year Treasury: 3.44% · May 2, 202310-year Treasury: 3.38% · May 3, 202310-year Treasury: 3.37% · May 4, 202310-year Treasury: 3.44% · May 5, 202310-year Treasury: 3.52% · May 8, 202310-year Treasury: 3.53% · May 9, 202310-year Treasury: 3.43% · May 10, 202310-year Treasury: 3.39% · May 11, 202310-year Treasury: 3.46% · May 12, 202310-year Treasury: 3.50% · May 15, 202310-year Treasury: 3.54% · May 16, 202310-year Treasury: 3.57% · May 17, 202310-year Treasury: 3.65% · May 18, 202310-year Treasury: 3.70% · May 19, 202310-year Treasury: 3.72% · May 22, 202310-year Treasury: 3.70% · May 23, 202310-year Treasury: 3.73% · May 24, 202310-year Treasury: 3.83% · May 25, 202310-year Treasury: 3.80% · May 26, 202310-year Treasury: 3.69% · May 30, 202310-year Treasury: 3.64% · May 31, 202310-year Treasury: 3.61% · Jun 1, 202310-year Treasury: 3.69% · Jun 2, 202310-year Treasury: 3.69% · Jun 5, 202310-year Treasury: 3.70% · Jun 6, 202310-year Treasury: 3.79% · Jun 7, 202310-year Treasury: 3.73% · Jun 8, 202310-year Treasury: 3.75% · Jun 9, 202310-year Treasury: 3.73% · Jun 12, 202310-year Treasury: 3.84% · Jun 13, 202310-year Treasury: 3.83% · Jun 14, 202310-year Treasury: 3.72% · Jun 15, 202310-year Treasury: 3.77% · Jun 16, 202310-year Treasury: 3.74% · Jun 20, 202310-year Treasury: 3.72% · Jun 21, 202310-year Treasury: 3.80% · Jun 22, 202310-year Treasury: 3.74% · Jun 23, 202310-year Treasury: 3.72% · Jun 26, 202310-year Treasury: 3.77% · Jun 27, 202310-year Treasury: 3.71% · Jun 28, 202310-year Treasury: 3.85% · Jun 29, 202310-year Treasury: 3.81% · Jun 30, 202310-year Treasury: 3.86% · Jul 3, 202310-year Treasury: 3.95% · Jul 5, 202310-year Treasury: 4.05% · Jul 6, 202310-year Treasury: 4.06% · Jul 7, 202310-year Treasury: 4.01% · Jul 10, 202310-year Treasury: 3.99% · Jul 11, 202310-year Treasury: 3.86% · Jul 12, 202310-year Treasury: 3.76% · Jul 13, 202310-year Treasury: 3.83% · Jul 14, 202310-year Treasury: 3.81% · Jul 17, 202310-year Treasury: 3.80% · Jul 18, 202310-year Treasury: 3.75% · Jul 19, 202310-year Treasury: 3.85% · Jul 20, 202310-year Treasury: 3.84% · Jul 21, 202310-year Treasury: 3.86% · Jul 24, 202310-year Treasury: 3.91% · Jul 25, 202310-year Treasury: 3.86% · Jul 26, 202310-year Treasury: 4.01% · Jul 27, 202310-year Treasury: 3.96% · Jul 28, 202310-year Treasury: 3.97% · Jul 31, 202310-year Treasury: 4.05% · Aug 1, 202310-year Treasury: 4.08% · Aug 2, 202310-year Treasury: 4.20% · Aug 3, 202310-year Treasury: 4.05% · Aug 4, 2023Feb 5, 2023May 5, 2023Aug 5, 2023
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$1,874.55/month

6.39% · May 4, 2023

At the later reference$1,953.78/month

6.79% · Jun 1, 2023

The illustrative principal-and-interest payment is $79.22 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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