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

Jobs · ORIGINAL ECONOMIC RELEASE

April 2025 Employment Situation

(NOTE: BLS reissued this news release on June 3, 2025, to note that this release contains minor data errors associated with the introduction in April 2025 of a redesigned sample for the household survey. These errors pertain only to the…

Historical releaseThe figures below describe the original reporting period. They are not today’s rates or a current economic forecast.Today’s market brief →

THE PRIMARY SOURCE

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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.

(NOTE: BLS reissued this news release on June 3, 2025, to note that this release contains minor data errors associated with the introduction in April 2025 of a redesigned sample for the household survey. These errors pertain only to the April 2025 household survey data in this release. Major labor force measures, such as the unemployment rate, labor force participation rate, and employment-population ratio were unaffected. While this error affected many estimates, the impact was negligible. This release was not updated to reflect the corrected household survey estimates.

Total nonfarm payroll employment increased by 177,000 in April, and the unemployment rate was unchanged at 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, transportation and warehousing, financial activities, and social assistance. Federal government employment declined.

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

The unemployment rate was unchanged at 4.2 percent in April and has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024. The number of unemployed people, at 7.2 million, changed little in April. (See table A-1.)

Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult women (3.7 percent), teenagers (12.9 percent), Whites (3.8 percent), Blacks (6.3 percent), Asians (3.0 percent), and Hispanics (5.2 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

In April, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 179,000 to 1.7 million. The long-term unemployed accounted for 23.5 percent of all unemployed people. (See table A-12.)

Both the labor force participation rate, at 62.6 percent, and the employment-population ratio, at 60.0 percent, changed little in April. These measures have shown little change over the year. (See table A-1.)

The number of people employed part time for economic reasons, at 4.7 million, changed little in April. 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.)

In April, the number of people not in the labor force who currently want a job was little changed at 5.7 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 people marginally attached to the labor force, at 1.6 million, changed little 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 414,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 177,000 in April, roughly in line with the average monthly gain of 152,000 over the prior 12 months. In April, employment continued to trend up in health care, transportation and warehousing, financial activities, and social assistance. Federal government employment declined. (See table B-1.)

Health care added 51,000 jobs in April, about the same as the average monthly gain of 52,000 over the prior 12 months. In April, job growth continued in hospitals (+22,000) and ambulatory health care services (+21,000).

Employment in transportation and warehousing increased by 29,000 in April, following little change in the prior month (+3,000). Job gains occurred in warehousing and storage (+10,000), couriers and messengers (+8,000), and air transportation (+3,000) in April. Transportation and warehousing had added an average of 12,000 jobs per month over the prior 12 months.

In April, financial activities employment continued to trend up (+14,000). The industry has added 103,000 jobs since its employment trough in April 2024.

Employment in social assistance continued its upward trend in April (+8,000) but at a slower pace than the average monthly gain over the prior 12 months (+20,000).

Within government, federal government employment declined by 9,000 in April and is down by 26,000 since January. (Employees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey.)

Employment showed little or no change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; retail trade; information; professional and business services; leisure and hospitality; and other services.

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or 0.2 percent, to $36.06. Over the past 12 months, average hourly earnings have increased by 3.8 percent. In April, average hourly earnings of private-sector production and nonsupervisory employees rose by 10 cents, or 0.3 percent, to $31.06. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls was unchanged at 34.3 hours in April. In manufacturing, the average workweek edged down by 0.2 hour to 40.0 hours, and overtime was unchanged at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls remained at 33.8 hours in April. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for February was revised down by 15,000, from +117,000 to +102,000, and the change for March was revised down by 43,000, from +228,000 to +185,000. With these revisions, employment in February and March combined is 58,000 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 2, 2025.

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 2, 2025Publication referenceMay 2, 202530 days laterJun 1, 2025
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.65%Observed 6.76%Observed +11 bps vs. earlier reference6.89%Observed +13 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.20%Observed 4.33%Observed +13 bps vs. earlier reference4.41%Observed +8 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 2, 2025 – Aug 2, 2025
Historical mortgage and Treasury observations around May 2, 2025Each 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.4.00%5.50%7.00%Publication date30-year fixed mortgage: 6.89% · Feb 6, 202530-year fixed mortgage: 6.87% · Feb 13, 202530-year fixed mortgage: 6.85% · Feb 20, 202530-year fixed mortgage: 6.76% · Feb 27, 202530-year fixed mortgage: 6.63% · Mar 6, 202530-year fixed mortgage: 6.65% · Mar 13, 202530-year fixed mortgage: 6.67% · Mar 20, 202530-year fixed mortgage: 6.65% · Mar 27, 202530-year fixed mortgage: 6.64% · Apr 3, 202530-year fixed mortgage: 6.62% · Apr 10, 202530-year fixed mortgage: 6.83% · Apr 17, 202530-year fixed mortgage: 6.81% · Apr 24, 202530-year fixed mortgage: 6.76% · May 1, 202530-year fixed mortgage: 6.76% · May 8, 202530-year fixed mortgage: 6.81% · May 15, 202530-year fixed mortgage: 6.86% · May 22, 202530-year fixed mortgage: 6.89% · May 29, 202530-year fixed mortgage: 6.85% · Jun 5, 202530-year fixed mortgage: 6.84% · Jun 12, 202530-year fixed mortgage: 6.81% · Jun 18, 202530-year fixed mortgage: 6.77% · Jun 26, 202530-year fixed mortgage: 6.67% · Jul 3, 202530-year fixed mortgage: 6.72% · Jul 10, 202530-year fixed mortgage: 6.75% · Jul 17, 202530-year fixed mortgage: 6.74% · Jul 24, 202530-year fixed mortgage: 6.72% · Jul 31, 202510-year Treasury: 4.54% · Feb 3, 202510-year Treasury: 4.52% · Feb 4, 202510-year Treasury: 4.43% · Feb 5, 202510-year Treasury: 4.45% · Feb 6, 202510-year Treasury: 4.49% · Feb 7, 202510-year Treasury: 4.51% · Feb 10, 202510-year Treasury: 4.54% · Feb 11, 202510-year Treasury: 4.62% · Feb 12, 202510-year Treasury: 4.52% · Feb 13, 202510-year Treasury: 4.47% · Feb 14, 202510-year Treasury: 4.55% · Feb 18, 202510-year Treasury: 4.53% · Feb 19, 202510-year Treasury: 4.50% · Feb 20, 202510-year Treasury: 4.42% · Feb 21, 202510-year Treasury: 4.40% · Feb 24, 202510-year Treasury: 4.30% · Feb 25, 202510-year Treasury: 4.25% · Feb 26, 202510-year Treasury: 4.29% · Feb 27, 202510-year Treasury: 4.24% · Feb 28, 202510-year Treasury: 4.16% · Mar 3, 202510-year Treasury: 4.22% · Mar 4, 202510-year Treasury: 4.28% · Mar 5, 202510-year Treasury: 4.29% · Mar 6, 202510-year Treasury: 4.32% · Mar 7, 202510-year Treasury: 4.22% · Mar 10, 202510-year Treasury: 4.28% · Mar 11, 202510-year Treasury: 4.32% · Mar 12, 202510-year Treasury: 4.27% · Mar 13, 202510-year Treasury: 4.31% · Mar 14, 202510-year Treasury: 4.31% · Mar 17, 202510-year Treasury: 4.29% · Mar 18, 202510-year Treasury: 4.25% · Mar 19, 202510-year Treasury: 4.24% · Mar 20, 202510-year Treasury: 4.25% · Mar 21, 202510-year Treasury: 4.34% · Mar 24, 202510-year Treasury: 4.31% · Mar 25, 202510-year Treasury: 4.35% · Mar 26, 202510-year Treasury: 4.38% · Mar 27, 202510-year Treasury: 4.27% · Mar 28, 202510-year Treasury: 4.23% · Mar 31, 202510-year Treasury: 4.17% · Apr 1, 202510-year Treasury: 4.20% · Apr 2, 202510-year Treasury: 4.06% · Apr 3, 202510-year Treasury: 4.01% · Apr 4, 202510-year Treasury: 4.15% · Apr 7, 202510-year Treasury: 4.26% · Apr 8, 202510-year Treasury: 4.34% · Apr 9, 202510-year Treasury: 4.40% · Apr 10, 202510-year Treasury: 4.48% · Apr 11, 202510-year Treasury: 4.38% · Apr 14, 202510-year Treasury: 4.35% · Apr 15, 202510-year Treasury: 4.29% · Apr 16, 202510-year Treasury: 4.34% · Apr 17, 202510-year Treasury: 4.42% · Apr 21, 202510-year Treasury: 4.41% · Apr 22, 202510-year Treasury: 4.40% · Apr 23, 202510-year Treasury: 4.32% · Apr 24, 202510-year Treasury: 4.29% · Apr 25, 202510-year Treasury: 4.23% · Apr 28, 202510-year Treasury: 4.19% · Apr 29, 202510-year Treasury: 4.17% · Apr 30, 202510-year Treasury: 4.25% · May 1, 202510-year Treasury: 4.33% · May 2, 202510-year Treasury: 4.36% · May 5, 202510-year Treasury: 4.30% · May 6, 202510-year Treasury: 4.26% · May 7, 202510-year Treasury: 4.37% · May 8, 202510-year Treasury: 4.37% · May 9, 202510-year Treasury: 4.45% · May 12, 202510-year Treasury: 4.49% · May 13, 202510-year Treasury: 4.53% · May 14, 202510-year Treasury: 4.45% · May 15, 202510-year Treasury: 4.43% · May 16, 202510-year Treasury: 4.46% · May 19, 202510-year Treasury: 4.48% · May 20, 202510-year Treasury: 4.58% · May 21, 202510-year Treasury: 4.54% · May 22, 202510-year Treasury: 4.51% · May 23, 202510-year Treasury: 4.43% · May 27, 202510-year Treasury: 4.47% · May 28, 202510-year Treasury: 4.43% · May 29, 202510-year Treasury: 4.41% · May 30, 202510-year Treasury: 4.46% · Jun 2, 202510-year Treasury: 4.46% · Jun 3, 202510-year Treasury: 4.37% · Jun 4, 202510-year Treasury: 4.40% · Jun 5, 202510-year Treasury: 4.51% · Jun 6, 202510-year Treasury: 4.49% · Jun 9, 202510-year Treasury: 4.47% · Jun 10, 202510-year Treasury: 4.41% · Jun 11, 202510-year Treasury: 4.36% · Jun 12, 202510-year Treasury: 4.41% · Jun 13, 202510-year Treasury: 4.46% · Jun 16, 202510-year Treasury: 4.39% · Jun 17, 202510-year Treasury: 4.38% · Jun 18, 202510-year Treasury: 4.38% · Jun 20, 202510-year Treasury: 4.34% · Jun 23, 202510-year Treasury: 4.30% · Jun 24, 202510-year Treasury: 4.29% · Jun 25, 202510-year Treasury: 4.26% · Jun 26, 202510-year Treasury: 4.29% · Jun 27, 202510-year Treasury: 4.24% · Jun 30, 202510-year Treasury: 4.26% · Jul 1, 202510-year Treasury: 4.30% · Jul 2, 202510-year Treasury: 4.35% · Jul 3, 202510-year Treasury: 4.40% · Jul 7, 202510-year Treasury: 4.42% · Jul 8, 202510-year Treasury: 4.34% · Jul 9, 202510-year Treasury: 4.35% · Jul 10, 202510-year Treasury: 4.43% · Jul 11, 202510-year Treasury: 4.43% · Jul 14, 202510-year Treasury: 4.50% · Jul 15, 202510-year Treasury: 4.46% · Jul 16, 202510-year Treasury: 4.47% · Jul 17, 202510-year Treasury: 4.44% · Jul 18, 202510-year Treasury: 4.38% · Jul 21, 202510-year Treasury: 4.35% · Jul 22, 202510-year Treasury: 4.40% · Jul 23, 202510-year Treasury: 4.43% · Jul 24, 202510-year Treasury: 4.40% · Jul 25, 202510-year Treasury: 4.42% · Jul 28, 202510-year Treasury: 4.34% · Jul 29, 202510-year Treasury: 4.38% · Jul 30, 202510-year Treasury: 4.37% · Jul 31, 202510-year Treasury: 4.23% · Aug 1, 2025Feb 2, 2025May 2, 2025Aug 2, 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$1,947.79/month

6.76% · May 1, 2025

At the later reference$1,973.79/month

6.89% · May 29, 2025

The illustrative principal-and-interest payment is $26.01 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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