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

Jobs · ORIGINAL ECONOMIC RELEASE

June 2024 Employment Situation

Total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social…

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 206,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction.

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 4.1 percent, and the number of unemployed people, at 6.8 million, changed little in June. These measures are higher than a year earlier, when the jobless rate was 3.6 percent and the number of unemployed people was 6.0 million. (See table A-1.)

Among the major worker groups, the unemployment rates for adult women (3.7 percent) and Asians (4.1 percent) increased in June. The jobless rates for adult men (3.8 percent), teenagers (12.1 percent), Whites (3.5 percent), Blacks (6.3 percent), and Hispanics (4.9 percent) showed little or no 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) rose by 166,000 to 1.5 million in June. This measure is up from 1.1 million a year earlier. The long-term unemployed accounted for 22.2 percent of all unemployed people in June. (See table A-12.)

The labor force participation rate changed little at 62.6 percent in June, and the employment-population ratio held at 60.1 percent. These measures showed little or no change over the year. (See table A-1.)

The number of people employed part time for economic reasons, at 4.2 million, changed little in June. 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 people not in the labor force who currently want a job declined by 483,000 to 5.2 million in June. 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 1.5 million, was essentially unchanged in June. 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, edged down to 365,000 in June. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 206,000 in June, similar to the average monthly gain of 220,000 over the prior 12 months. In June, job gains occurred in government, health care, social assistance, and construction. (See table B-1.)

Government employment rose by 70,000 in June, higher than the average monthly gain of 49,000 over the prior 12 months. Over the month, employment increased in local government, excluding education (+34,000) and in state government (+26,000).

Health care added 49,000 jobs in June, lower than the average monthly gain of 64,000 over the prior 12 months. In June, employment rose in ambulatory health care services (+22,000) and hospitals (+22,000).

Employment in social assistance increased by 34,000 in June, primarily in individual and family services (+26,000). Over the prior 12 months, social assistance had added an average of 22,000 jobs per month.

Construction added 27,000 jobs in June, higher than the average monthly gain of 20,000 over the prior 12 months.

Retail trade employment changed little in June (-9,000), after trending up earlier in the year. Furniture, home furnishings, electronics, and appliance retailers lost 6,000 jobs over the month, while warehouse clubs, supercenters, and other general merchandise retailers gained 5,000 jobs.

Employment in professional and business services changed little in June (-17,000) and has shown little change over the year. Temporary help services employment declined by 49,000 over the month and is down by 515,000 since reaching a peak in March 2022. Employment in professional, scientific, and technical services continued to trend up in June (+24,000).

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; manufacturing; wholesale trade; transportation and warehousing; information; financial activities; leisure and hospitality; and other services.

In June, average hourly earnings for all employees on private nonfarm payrolls increased by 10 cents, or 0.3 percent, to $35.00. Over the past 12 months, average hourly earnings have increased by 3.9 percent. In June, average hourly earnings of private-sector production and nonsupervisory employees increased by 10 cents, or 0.3 percent, to $30.05. (See tables B-3 and B-8.)

In June, the average workweek for all employees on private nonfarm payrolls was 34.3 hours for the third consecutive month. In manufacturing, the average workweek was unchanged at 40.2 hours, and overtime remained at 3.0 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 April was revised down by 57,000, from +165,000 to +108,000, and the change for May was revised down by 54,000, from +272,000 to +218,000. With these revisions, employment in April and May combined is 111,000 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 Jul 5, 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 earlierJun 5, 2024Publication referenceJul 5, 202430 days laterAug 4, 2024
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®7.03%Observed 6.95%Observed −8 bps vs. earlier reference6.73%Observed −22 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.29%Observed 4.28%Observed −1 bps vs. earlier reference3.80%Observed −48 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

Apr 5, 2024 – Oct 5, 2024
Historical mortgage and Treasury observations around Jul 5, 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: 6.88% · 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, 202430-year fixed mortgage: 6.47% · Aug 8, 202430-year fixed mortgage: 6.49% · Aug 15, 202430-year fixed mortgage: 6.46% · Aug 22, 202430-year fixed mortgage: 6.35% · Aug 29, 202430-year fixed mortgage: 6.35% · Sep 5, 202430-year fixed mortgage: 6.20% · Sep 12, 202430-year fixed mortgage: 6.09% · Sep 19, 202430-year fixed mortgage: 6.08% · Sep 26, 202430-year fixed mortgage: 6.12% · Oct 3, 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, 202410-year Treasury: 3.78% · Aug 5, 202410-year Treasury: 3.90% · Aug 6, 202410-year Treasury: 3.96% · Aug 7, 202410-year Treasury: 3.99% · Aug 8, 202410-year Treasury: 3.94% · Aug 9, 202410-year Treasury: 3.90% · Aug 12, 202410-year Treasury: 3.85% · Aug 13, 202410-year Treasury: 3.83% · Aug 14, 202410-year Treasury: 3.92% · Aug 15, 202410-year Treasury: 3.89% · Aug 16, 202410-year Treasury: 3.86% · Aug 19, 202410-year Treasury: 3.82% · Aug 20, 202410-year Treasury: 3.79% · Aug 21, 202410-year Treasury: 3.86% · Aug 22, 202410-year Treasury: 3.81% · Aug 23, 202410-year Treasury: 3.82% · Aug 26, 202410-year Treasury: 3.83% · Aug 27, 202410-year Treasury: 3.84% · Aug 28, 202410-year Treasury: 3.87% · Aug 29, 202410-year Treasury: 3.91% · Aug 30, 202410-year Treasury: 3.84% · Sep 3, 202410-year Treasury: 3.77% · Sep 4, 202410-year Treasury: 3.73% · Sep 5, 202410-year Treasury: 3.72% · Sep 6, 202410-year Treasury: 3.70% · Sep 9, 202410-year Treasury: 3.65% · Sep 10, 202410-year Treasury: 3.65% · Sep 11, 202410-year Treasury: 3.68% · Sep 12, 202410-year Treasury: 3.66% · Sep 13, 202410-year Treasury: 3.63% · Sep 16, 202410-year Treasury: 3.65% · Sep 17, 202410-year Treasury: 3.70% · Sep 18, 202410-year Treasury: 3.73% · Sep 19, 202410-year Treasury: 3.73% · Sep 20, 202410-year Treasury: 3.75% · Sep 23, 202410-year Treasury: 3.74% · Sep 24, 202410-year Treasury: 3.79% · Sep 25, 202410-year Treasury: 3.79% · Sep 26, 202410-year Treasury: 3.75% · Sep 27, 202410-year Treasury: 3.81% · Sep 30, 202410-year Treasury: 3.74% · Oct 1, 202410-year Treasury: 3.79% · Oct 2, 202410-year Treasury: 3.85% · Oct 3, 202410-year Treasury: 3.98% · Oct 4, 2024Apr 5, 2024Jul 5, 2024Oct 5, 2024
30-year fixed mortgage26 observations10-year Treasury127 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$1,985.84/month

6.95% · Jul 3, 2024

At the later reference$1,941.81/month

6.73% · Aug 1, 2024

The illustrative principal-and-interest payment is $44.04 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 →