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

Jobs · ORIGINAL ECONOMIC RELEASE

April 2024 Employment Situation

Total nonfarm payroll employment increased by 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in social assistance, and in…

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 175,000 in April, and the unemployment rate changed little at 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in social assistance, and in transportation and warehousing.

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 3.9 percent, and the number of unemployed people, at 6.5 million, changed little in April. The unemployment rate has remained in a narrow range of 3.7 percent to 3.9 percent since August 2023. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (3.6 percent) increased in April. The rate for Blacks (5.6 percent) decreased, offsetting an increase in the prior month. The jobless rates for adult women (3.5 percent), teenagers (11.7 percent), Whites (3.5 percent), Asians (2.8 percent), and Hispanics (4.8 percent) showed little change over the month. (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 1.3 million, was essentially unchanged in April. The long-term unemployed accounted for 19.6 percent of all unemployed people. (See table A-12.)

The labor force participation rate held at 62.7 percent in April, and the employment-population ratio was little changed at 60.2 percent. These measures have shown little change over the year. (See table A-1.)

The number of people employed part time for economic reasons, at 4.5 million, changed little 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.)

In April, the number of people not in the labor force who currently want a job, at 5.6 million, was little changed. 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 people marginally attached to the labor force, at 1.6 million, was little changed 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, also changed little over the month at 362,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 175,000 in April, lower than the average monthly gain of 242,000 over the prior 12 months. In April, job gains occurred in health care, in social assistance, and in transportation and warehousing. (See table B-1.)

Health care added 56,000 jobs in April, in line with the average monthly gain of 63,000 over the prior 12 months. In April, employment continued to increase in ambulatory health care services (+33,000), hospitals (+14,000), and nursing and residential care facilities (+9,000).

Employment in social assistance increased by 31,000 in April, led by a gain in individual and family services (+23,000). Social assistance had added an average of 21,000 jobs per month over the prior 12 months.

In April, transportation and warehousing added 22,000 jobs, with gains in couriers and messengers (+8,000) and warehousing and storage (+8,000). Over the prior 12 months, employment in transportation and warehousing had shown little net change.

Employment in retail trade continued to trend up in April (+20,000). Over the prior 12 months, the industry had added an average of 7,000 jobs per month. In April, employment increased in general merchandise retailers (+10,000), building material and garden equipment and supplies dealers (+7,000), and health and personal care retailers (+5,000). Electronics and appliance retailers lost 3,000 jobs.

Construction employment changed little in April (+9,000), following an increase of 40,000 in March. Over the prior 12 months, construction had added an average of 22,000 jobs per month.

Employment in government changed little in April (+8,000). Over the prior 12 months, government had added an average of 55,000 jobs per month. In April, local government employment was unchanged, following an increase of 51,000 in March.

Employment was little changed over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; information; financial activities; professional and business services; leisure and hospitality; and other services.

In April, average hourly earnings for all employees on private nonfarm payrolls increased by 7 cents, or 0.2 percent, to $34.75. Over the past 12 months, average hourly earnings have increased by 3.9 percent. In April, average hourly earnings of private-sector production and nonsupervisory employees edged up by 6 cents, or 0.2 percent, to $29.83. (See tables B-3 and B-8.)

In April, the average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.3 hours. In manufacturing, the average workweek was unchanged at 40.0 hours, and overtime was also unchanged at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls edged down by 0.1 hour to 33.7 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for February was revised down by 34,000, from +270,000 to +236,000, and the change for March was revised up by 12,000, from +303,000 to +315,000. With these revisions, employment in February and March combined is 22,000 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 3, 2024.

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 3, 2024Publication referenceMay 3, 202430 days laterJun 2, 2024
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.79%Observed 7.22%Observed +43 bps vs. earlier reference7.03%Observed −19 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.36%Observed 4.50%Observed +14 bps vs. earlier reference4.51%Observed +1 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 3, 2024 – Aug 3, 2024
Historical mortgage and Treasury observations around May 3, 2024Each 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.3.50%5.50%7.50%Publication date30-year fixed mortgage: 6.64% · Feb 8, 202430-year fixed mortgage: 6.77% · Feb 15, 202430-year fixed mortgage: 6.90% · Feb 22, 202430-year fixed mortgage: 6.94% · Feb 29, 202430-year fixed mortgage: 6.88% · Mar 7, 202430-year fixed mortgage: 6.74% · Mar 14, 202430-year fixed mortgage: 6.87% · Mar 21, 202430-year fixed mortgage: 6.79% · Mar 28, 202430-year fixed mortgage: 6.82% · Apr 4, 202430-year fixed mortgage: 6.88% · Apr 11, 202430-year fixed mortgage: 7.10% · Apr 18, 202430-year fixed mortgage: 7.17% · Apr 25, 202430-year fixed mortgage: 7.22% · May 2, 202430-year fixed mortgage: 7.09% · May 9, 202430-year fixed mortgage: 7.02% · May 16, 202430-year fixed mortgage: 6.94% · May 23, 202430-year fixed mortgage: 7.03% · May 30, 202430-year fixed mortgage: 6.99% · Jun 6, 202430-year fixed mortgage: 6.95% · Jun 13, 202430-year fixed mortgage: 6.87% · Jun 20, 202430-year fixed mortgage: 6.86% · Jun 27, 202430-year fixed mortgage: 6.95% · Jul 3, 202430-year fixed mortgage: 6.89% · Jul 11, 202430-year fixed mortgage: 6.77% · Jul 18, 202430-year fixed mortgage: 6.78% · Jul 25, 202430-year fixed mortgage: 6.73% · Aug 1, 202410-year Treasury: 4.17% · Feb 5, 202410-year Treasury: 4.09% · Feb 6, 202410-year Treasury: 4.09% · Feb 7, 202410-year Treasury: 4.15% · Feb 8, 202410-year Treasury: 4.17% · Feb 9, 202410-year Treasury: 4.17% · Feb 12, 202410-year Treasury: 4.31% · Feb 13, 202410-year Treasury: 4.27% · Feb 14, 202410-year Treasury: 4.24% · Feb 15, 202410-year Treasury: 4.30% · Feb 16, 202410-year Treasury: 4.27% · Feb 20, 202410-year Treasury: 4.32% · Feb 21, 202410-year Treasury: 4.33% · Feb 22, 202410-year Treasury: 4.26% · Feb 23, 202410-year Treasury: 4.28% · Feb 26, 202410-year Treasury: 4.31% · Feb 27, 202410-year Treasury: 4.27% · Feb 28, 202410-year Treasury: 4.25% · Feb 29, 202410-year Treasury: 4.19% · Mar 1, 202410-year Treasury: 4.22% · Mar 4, 202410-year Treasury: 4.13% · Mar 5, 202410-year Treasury: 4.11% · Mar 6, 202410-year Treasury: 4.09% · Mar 7, 202410-year Treasury: 4.09% · Mar 8, 202410-year Treasury: 4.10% · Mar 11, 202410-year Treasury: 4.16% · Mar 12, 202410-year Treasury: 4.19% · Mar 13, 202410-year Treasury: 4.29% · Mar 14, 202410-year Treasury: 4.31% · Mar 15, 202410-year Treasury: 4.34% · Mar 18, 202410-year Treasury: 4.30% · Mar 19, 202410-year Treasury: 4.27% · Mar 20, 202410-year Treasury: 4.27% · Mar 21, 202410-year Treasury: 4.22% · Mar 22, 202410-year Treasury: 4.25% · Mar 25, 202410-year Treasury: 4.24% · Mar 26, 202410-year Treasury: 4.20% · Mar 27, 202410-year Treasury: 4.20% · Mar 28, 202410-year Treasury: 4.33% · Apr 1, 202410-year Treasury: 4.36% · Apr 2, 202410-year Treasury: 4.36% · Apr 3, 202410-year Treasury: 4.31% · Apr 4, 202410-year Treasury: 4.39% · Apr 5, 202410-year Treasury: 4.42% · Apr 8, 202410-year Treasury: 4.36% · Apr 9, 202410-year Treasury: 4.55% · Apr 10, 202410-year Treasury: 4.56% · Apr 11, 202410-year Treasury: 4.50% · Apr 12, 202410-year Treasury: 4.63% · Apr 15, 202410-year Treasury: 4.67% · Apr 16, 202410-year Treasury: 4.59% · Apr 17, 202410-year Treasury: 4.64% · Apr 18, 202410-year Treasury: 4.62% · Apr 19, 202410-year Treasury: 4.62% · Apr 22, 202410-year Treasury: 4.61% · Apr 23, 202410-year Treasury: 4.65% · Apr 24, 202410-year Treasury: 4.70% · Apr 25, 202410-year Treasury: 4.67% · Apr 26, 202410-year Treasury: 4.63% · Apr 29, 202410-year Treasury: 4.69% · Apr 30, 202410-year Treasury: 4.63% · May 1, 202410-year Treasury: 4.58% · May 2, 202410-year Treasury: 4.50% · May 3, 202410-year Treasury: 4.49% · May 6, 202410-year Treasury: 4.47% · May 7, 202410-year Treasury: 4.48% · May 8, 202410-year Treasury: 4.45% · May 9, 202410-year Treasury: 4.50% · May 10, 202410-year Treasury: 4.48% · May 13, 202410-year Treasury: 4.45% · May 14, 202410-year Treasury: 4.36% · May 15, 202410-year Treasury: 4.38% · May 16, 202410-year Treasury: 4.42% · May 17, 202410-year Treasury: 4.44% · May 20, 202410-year Treasury: 4.41% · May 21, 202410-year Treasury: 4.43% · May 22, 202410-year Treasury: 4.47% · May 23, 202410-year Treasury: 4.46% · May 24, 202410-year Treasury: 4.54% · May 28, 202410-year Treasury: 4.61% · May 29, 202410-year Treasury: 4.55% · May 30, 202410-year Treasury: 4.51% · May 31, 202410-year Treasury: 4.41% · Jun 3, 202410-year Treasury: 4.33% · Jun 4, 202410-year Treasury: 4.29% · Jun 5, 202410-year Treasury: 4.28% · Jun 6, 202410-year Treasury: 4.43% · Jun 7, 202410-year Treasury: 4.47% · Jun 10, 202410-year Treasury: 4.39% · Jun 11, 202410-year Treasury: 4.31% · Jun 12, 202410-year Treasury: 4.24% · Jun 13, 202410-year Treasury: 4.20% · Jun 14, 202410-year Treasury: 4.28% · Jun 17, 202410-year Treasury: 4.22% · Jun 18, 202410-year Treasury: 4.25% · Jun 20, 202410-year Treasury: 4.25% · Jun 21, 202410-year Treasury: 4.25% · Jun 24, 202410-year Treasury: 4.23% · Jun 25, 202410-year Treasury: 4.32% · Jun 26, 202410-year Treasury: 4.29% · Jun 27, 202410-year Treasury: 4.36% · Jun 28, 202410-year Treasury: 4.48% · Jul 1, 202410-year Treasury: 4.43% · Jul 2, 202410-year Treasury: 4.36% · Jul 3, 202410-year Treasury: 4.28% · Jul 5, 202410-year Treasury: 4.28% · Jul 8, 202410-year Treasury: 4.30% · Jul 9, 202410-year Treasury: 4.28% · Jul 10, 202410-year Treasury: 4.20% · Jul 11, 202410-year Treasury: 4.18% · Jul 12, 202410-year Treasury: 4.23% · Jul 15, 202410-year Treasury: 4.17% · Jul 16, 202410-year Treasury: 4.16% · Jul 17, 202410-year Treasury: 4.20% · Jul 18, 202410-year Treasury: 4.25% · Jul 19, 202410-year Treasury: 4.26% · Jul 22, 202410-year Treasury: 4.25% · Jul 23, 202410-year Treasury: 4.28% · Jul 24, 202410-year Treasury: 4.27% · Jul 25, 202410-year Treasury: 4.20% · Jul 26, 202410-year Treasury: 4.17% · Jul 29, 202410-year Treasury: 4.15% · Jul 30, 202410-year Treasury: 4.09% · Jul 31, 202410-year Treasury: 3.99% · Aug 1, 202410-year Treasury: 3.80% · Aug 2, 2024Feb 3, 2024May 3, 2024Aug 3, 2024
30-year fixed mortgage26 observations10-year Treasury125 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$2,040.43/month

7.22% · May 2, 2024

At the later reference$2,001.96/month

7.03% · May 30, 2024

The illustrative principal-and-interest payment is $38.47 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.

Understand the policy connection →See current advertised mortgage options →