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

Jobs · ORIGINAL ECONOMIC RELEASE

June 2025 Employment Situation

Total nonfarm payroll employment increased by 147,000 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 state government and health care. Federal…

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 147,000 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 state government and health care. Federal government continued to lose jobs.

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 7.0 million, changed little in June. The unemployment rate has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024. (See table A-1.)

Among the major worker groups, the unemployment rate for Blacks (6.8 percent) increased in June, while the rates for adult women (3.6 percent) and Whites (3.6 percent) decreased. The jobless rates for adult men (3.9 percent), teenagers (14.4 percent), Asians (3.5 percent), and Hispanics (4.8 percent) showed little or no change over the month. (See tables A-1, A-2, and A-3.)

In June, the number of long-term unemployed (those jobless for 27 weeks or more) increased by 190,000 to 1.6 million, largely offsetting a decrease in the prior month. The long-term unemployed accounted for 23.3 percent of all unemployed people. (See table A-12.)

The labor force participation rate changed little at 62.3 percent in June, and the employment- population ratio held at 59.7 percent. (See table A-1.)

The number of people employed part time for economic reasons, at 4.5 million, changed little in June. 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 was essentially unchanged at 6.0 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 increased by 234,000 in June to 1.8 million. 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, increased by 256,000 in June to 637,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 147,000 in June, in line with the average monthly gain of 146,000 over the prior 12 months. In June, job gains occurred in state government and health care. Federal government continued to lose jobs. (See table B-1.)

Government employment rose by 73,000 in June. Employment in state government increased by 47,000, largely in education (+40,000). Employment in local government education continued to trend up (+23,000). Job losses continued in federal government (-7,000), where employment is down by 69,000 since reaching a recent peak in January. (Employees on paid leave or receiving ongoing severance pay are counted as employed in the establishment survey.)

Health care added 39,000 jobs in June, similar to the average monthly gain of 43,000 over the prior 12 months. In June, job gains occurred in hospitals (+16,000) and in nursing and residential care facilities (+14,000).

In June, social assistance employment continued to trend up (+19,000), reflecting continued growth in individual and family services (+16,000).

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

Average hourly earnings for all employees on private nonfarm payrolls rose by 8 cents, or 0.2 percent, to $36.30 in June. Over the past 12 months, average hourly earnings have increased by 3.7 percent. In June, average hourly earnings of private-sector production and nonsupervisory employees rose by 9 cents, or 0.3 percent, to $31.24. (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 June. In manufacturing, the average workweek held at 40.1 hours, and overtime was unchanged at 2.9 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls declined by 0.2 hour to 33.5 hours in June. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for April was revised up by 11,000, from +147,000 to +158,000, and the change for May was revised up by 5,000, from +139,000 to +144,000. With these revisions, employment in April and May combined is 16,000 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 Jul 3, 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 earlierJun 3, 2025Publication referenceJul 3, 202530 days laterAug 2, 2025
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.89%Observed 6.67%Observed −22 bps vs. earlier reference6.72%Observed +5 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.46%Observed 4.35%Observed −11 bps vs. earlier reference4.23%Observed −12 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 3, 2025 – Oct 3, 2025
Historical mortgage and Treasury observations around Jul 3, 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: 6.64% · 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, 202530-year fixed mortgage: 6.63% · Aug 7, 202530-year fixed mortgage: 6.58% · Aug 14, 202530-year fixed mortgage: 6.58% · Aug 21, 202530-year fixed mortgage: 6.56% · Aug 28, 202530-year fixed mortgage: 6.50% · Sep 4, 202530-year fixed mortgage: 6.35% · Sep 11, 202530-year fixed mortgage: 6.26% · Sep 18, 202530-year fixed mortgage: 6.30% · Sep 25, 202530-year fixed mortgage: 6.34% · Oct 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, 202510-year Treasury: 4.22% · Aug 4, 202510-year Treasury: 4.22% · Aug 5, 202510-year Treasury: 4.22% · Aug 6, 202510-year Treasury: 4.23% · Aug 7, 202510-year Treasury: 4.27% · Aug 8, 202510-year Treasury: 4.27% · Aug 11, 202510-year Treasury: 4.29% · Aug 12, 202510-year Treasury: 4.24% · Aug 13, 202510-year Treasury: 4.29% · Aug 14, 202510-year Treasury: 4.33% · Aug 15, 202510-year Treasury: 4.34% · Aug 18, 202510-year Treasury: 4.30% · Aug 19, 202510-year Treasury: 4.29% · Aug 20, 202510-year Treasury: 4.33% · Aug 21, 202510-year Treasury: 4.26% · Aug 22, 202510-year Treasury: 4.28% · Aug 25, 202510-year Treasury: 4.26% · Aug 26, 202510-year Treasury: 4.24% · Aug 27, 202510-year Treasury: 4.22% · Aug 28, 202510-year Treasury: 4.23% · Aug 29, 202510-year Treasury: 4.28% · Sep 2, 202510-year Treasury: 4.22% · Sep 3, 202510-year Treasury: 4.17% · Sep 4, 202510-year Treasury: 4.10% · Sep 5, 202510-year Treasury: 4.05% · Sep 8, 202510-year Treasury: 4.08% · Sep 9, 202510-year Treasury: 4.04% · Sep 10, 202510-year Treasury: 4.01% · Sep 11, 202510-year Treasury: 4.06% · Sep 12, 202510-year Treasury: 4.05% · Sep 15, 202510-year Treasury: 4.04% · Sep 16, 202510-year Treasury: 4.06% · Sep 17, 202510-year Treasury: 4.11% · Sep 18, 202510-year Treasury: 4.14% · Sep 19, 202510-year Treasury: 4.15% · Sep 22, 202510-year Treasury: 4.12% · Sep 23, 202510-year Treasury: 4.16% · Sep 24, 202510-year Treasury: 4.18% · Sep 25, 202510-year Treasury: 4.20% · Sep 26, 202510-year Treasury: 4.15% · Sep 29, 202510-year Treasury: 4.16% · Sep 30, 202510-year Treasury: 4.12% · Oct 1, 202510-year Treasury: 4.10% · Oct 2, 202510-year Treasury: 4.13% · Oct 3, 2025Apr 3, 2025Jul 3, 2025Oct 3, 2025
30-year fixed mortgage27 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$1,929.87/month

6.67% · Jul 3, 2025

At the later reference$1,939.82/month

6.72% · Jul 31, 2025

The illustrative principal-and-interest payment is $9.95 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.

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