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

Jobs · ORIGINAL ECONOMIC RELEASE

September 2024 Employment Situation

Total nonfarm payroll employment increased by 254,000 in September, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services 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 254,000 in September, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in food services and drinking places, health care, government, 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 September. These measures are higher than a year earlier, when the jobless rate was 3.8 percent, and the number of unemployed people was 6.3 million. (See table A-1.)

Among the major worker groups, the unemployment rate for adult men (3.7 percent) decreased in September. The jobless rates for adult women (3.6 percent), teenagers (14.3 percent), Whites (3.6 percent), Blacks (5.7 percent), Asians (4.1 percent), and Hispanics (5.1 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

The number of people jobless less than 5 weeks decreased by 322,000 to 2.1 million in September. The number of long-term unemployed (those jobless for 27 weeks or more) was little changed over the month at 1.6 million. This measure is up from 1.3 million a year earlier. In September, the long-term unemployed accounted for 23.7 percent of all unemployed people. (See table A-12.)

In September, the labor force participation rate was 62.7 percent for the third consecutive month, and the employment-population ratio was little changed at 60.2 percent. Both measures changed little over the year. (See table A-1.)

The number of people employed part time for economic reasons changed little at 4.6 million in September. This measure is up from 4.1 million a year earlier. These individuals would have preferred full-time employment but 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, at 5.7 million, changed little in September. 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 increased by 204,000 to 1.6 million in September. 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, changed little at 445,000 in September. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 254,000 in September, higher than the average monthly gain of 203,000 over the prior 12 months. In September, employment continued to trend up in food services and drinking places, health care, government, social assistance, and construction. (See table B-1.)

Employment in food services and drinking places rose by 69,000 in September, well above the average monthly gain of 14,000 over the prior 12 months.

Health care added 45,000 jobs in September, below the average monthly gain of 57,000 over the prior 12 months. Over the month, employment rose in home health care services (+13,000), hospitals (+12,000), and nursing and residential care facilities (+9,000).

Employment in government continued its upward trend in September (+31,000). Government had an average monthly gain of 45,000 jobs over the prior 12 months. Over the month, employment continued to trend up in local government (+16,000) and state government (+13,000).

Employment in social assistance increased by 27,000 in September, primarily in individual and family services (+21,000). Over the prior 12 months, social assistance had added an average of 21,000 jobs per month.

Construction employment continued to trend up in September (+25,000), similar to the average monthly gain over the prior 12 months (+19,000). Over the month, nonresidential specialty trade contractors added 17,000 jobs.

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

In September, average hourly earnings for all employees on private nonfarm payrolls increased by 13 cents, or 0.4 percent, to $35.36. Over the past 12 months, average hourly earnings have increased by 4.0 percent. In September, average hourly earnings of private-sector production and nonsupervisory employees increased by 8 cents, or 0.3 percent, to $30.33. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.2 hours in September. In manufacturing, the average workweek was unchanged at 40.0 hours, and overtime edged down by 0.1 hour to 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls remained at 33.7 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for July was revised up by 55,000, from +89,000 to +144,000, and the change for August was revised up by 17,000, from +142,000 to +159,000. With these revisions, employment in July and August combined is 72,000 higher 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 Oct 4, 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 earlierSep 4, 2024Publication referenceOct 4, 202430 days laterNov 3, 2024
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.35%Observed 6.12%Observed −23 bps vs. earlier reference6.72%Observed +60 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury3.77%Observed 3.98%Observed +21 bps vs. earlier reference4.37%Observed +39 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

Jul 4, 2024 – Jan 4, 2025
Historical mortgage and Treasury observations around Oct 4, 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%5.25%7.00%Publication date30-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, 202430-year fixed mortgage: 6.32% · Oct 10, 202430-year fixed mortgage: 6.44% · Oct 17, 202430-year fixed mortgage: 6.54% · Oct 24, 202430-year fixed mortgage: 6.72% · Oct 31, 202430-year fixed mortgage: 6.79% · Nov 7, 202430-year fixed mortgage: 6.78% · Nov 14, 202430-year fixed mortgage: 6.84% · Nov 21, 202430-year fixed mortgage: 6.81% · Nov 27, 202430-year fixed mortgage: 6.69% · Dec 5, 202430-year fixed mortgage: 6.60% · Dec 12, 202430-year fixed mortgage: 6.72% · Dec 19, 202430-year fixed mortgage: 6.85% · Dec 26, 202430-year fixed mortgage: 6.91% · Jan 2, 202510-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, 202410-year Treasury: 4.03% · Oct 7, 202410-year Treasury: 4.04% · Oct 8, 202410-year Treasury: 4.06% · Oct 9, 202410-year Treasury: 4.09% · Oct 10, 202410-year Treasury: 4.08% · Oct 11, 202410-year Treasury: 4.03% · Oct 15, 202410-year Treasury: 4.02% · Oct 16, 202410-year Treasury: 4.09% · Oct 17, 202410-year Treasury: 4.08% · Oct 18, 202410-year Treasury: 4.19% · Oct 21, 202410-year Treasury: 4.20% · Oct 22, 202410-year Treasury: 4.24% · Oct 23, 202410-year Treasury: 4.21% · Oct 24, 202410-year Treasury: 4.25% · Oct 25, 202410-year Treasury: 4.28% · Oct 28, 202410-year Treasury: 4.28% · Oct 29, 202410-year Treasury: 4.29% · Oct 30, 202410-year Treasury: 4.28% · Oct 31, 202410-year Treasury: 4.37% · Nov 1, 202410-year Treasury: 4.31% · Nov 4, 202410-year Treasury: 4.26% · Nov 5, 202410-year Treasury: 4.42% · Nov 6, 202410-year Treasury: 4.31% · Nov 7, 202410-year Treasury: 4.30% · Nov 8, 202410-year Treasury: 4.43% · Nov 12, 202410-year Treasury: 4.44% · Nov 13, 202410-year Treasury: 4.43% · Nov 14, 202410-year Treasury: 4.43% · Nov 15, 202410-year Treasury: 4.42% · Nov 18, 202410-year Treasury: 4.39% · Nov 19, 202410-year Treasury: 4.41% · Nov 20, 202410-year Treasury: 4.43% · Nov 21, 202410-year Treasury: 4.41% · Nov 22, 202410-year Treasury: 4.27% · Nov 25, 202410-year Treasury: 4.30% · Nov 26, 202410-year Treasury: 4.25% · Nov 27, 202410-year Treasury: 4.18% · Nov 29, 202410-year Treasury: 4.19% · Dec 2, 202410-year Treasury: 4.23% · Dec 3, 202410-year Treasury: 4.19% · Dec 4, 202410-year Treasury: 4.17% · Dec 5, 202410-year Treasury: 4.15% · Dec 6, 202410-year Treasury: 4.20% · Dec 9, 202410-year Treasury: 4.22% · Dec 10, 202410-year Treasury: 4.26% · Dec 11, 202410-year Treasury: 4.32% · Dec 12, 202410-year Treasury: 4.40% · Dec 13, 202410-year Treasury: 4.39% · Dec 16, 202410-year Treasury: 4.40% · Dec 17, 202410-year Treasury: 4.50% · Dec 18, 202410-year Treasury: 4.57% · Dec 19, 202410-year Treasury: 4.52% · Dec 20, 202410-year Treasury: 4.59% · Dec 23, 202410-year Treasury: 4.59% · Dec 24, 202410-year Treasury: 4.58% · Dec 26, 202410-year Treasury: 4.62% · Dec 27, 202410-year Treasury: 4.55% · Dec 30, 202410-year Treasury: 4.58% · Dec 31, 202410-year Treasury: 4.57% · Jan 2, 202510-year Treasury: 4.60% · Jan 3, 2025Jul 4, 2024Oct 4, 2024Jan 4, 2025
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$1,821.86/month

6.12% · Oct 3, 2024

At the later reference$1,939.82/month

6.72% · Oct 31, 2024

The illustrative principal-and-interest payment is $117.95 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.

Understand the policy connection →See current advertised mortgage options →