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

Jobs · ORIGINAL ECONOMIC RELEASE

March 2026 Employment Situation

Total nonfarm payroll employment increased by 178,000 in March, and the unemployment rate changed little at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in construction, 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 178,000 in March, and the unemployment rate changed little at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in construction, and in transportation and warehousing. Federal government employment continued to decline.

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 4.3 percent, and the number of unemployed people, at 7.2 million, changed little in March. These measures also changed little over the year. (See table A-1.)

Among the major worker groups, the unemployment rate for people who are Asian (3.7 percent) decreased in March. The jobless rates for adult men (3.8 percent), adult women (4.0 percent), teenagers (13.7 percent), and people who are White (3.6 percent), Black (7.1 percent), or Hispanic (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) changed little at 1.8 million in March but is up by 322,000 over the year. The long-term unemployed accounted for 25.4 percent of all unemployed people in March. (See table A-12.)

Both the labor force participation rate, at 61.9 percent, and the employment-population ratio, at 59.2 percent, changed little in March. These measures also showed little change over the year, after accounting for annual population control adjustments. (See table A-1.)

The number of people employed part time for economic reasons, at 4.5 million, changed little in March. 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 changed little at 6.0 million in March. 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 325,000 in March to 1.9 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 144,000 in March to 510,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment increased by 178,000 in March, following a decrease in February (-133,000). In March, job gains occurred in health care, in construction, and in transportation and warehousing. Federal government employment continued to decline. Payroll employment had changed little on net over the prior 12 months. (See table B-1.)

Health care added 76,000 jobs in March. Employment in ambulatory health care services rose by 54,000, reflecting an increase of 35,000 in offices of physicians as workers returned from a strike. Employment also increased in hospitals (+15,000). Over the prior 12 months, health care had added an average of 29,000 jobs per month.

Employment in construction grew by 26,000 in March but had shown little net change over the prior 12 months.

In March, transportation and warehousing added 21,000 jobs, reflecting a gain in couriers and messengers (+20,000). Employment in transportation and warehousing is down by 139,000 since reaching a peak in February 2025.

Employment in social assistance continued its upward trend in March (+14,000), primarily in individual and family services (+11,000).

Federal government employment continued to decline in March (-18,000). Since reaching a peak in October 2024, federal government employment is down by 355,000, or 11.8 percent. Federal employees on furlough during the partial government shutdown were counted as employed in the establishment survey because they worked or received (or will receive) pay for the pay period that included the 12th of the month.

Employment in financial activities edged down by 15,000 in March, reflecting a loss in finance and insurance (-16,000). Employment in financial activities is down by 77,000 since reaching a peak in May 2025.

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

In March, average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents, or 0.2 percent, to $37.38. Over the year, average hourly earnings have increased by 3.5 percent. In March, average hourly earnings of private-sector production and nonsupervisory employees edged up by 5 cents, or 0.2 percent, to $32.07. (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 March. In manufacturing, the average workweek was unchanged at 40.2 hours, and overtime was also unchanged at 3.0 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls remained at 33.8 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for January was revised up by 34,000, from +126,000 to +160,000, and the change for February was revised down by 41,000, from -92,000 to -133,000. With these revisions, employment in January and February combined is 7,000 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 Apr 3, 2026.

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 earlierMar 4, 2026Publication referenceApr 3, 202630 days laterMay 3, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®5.98%Observed 6.46%Observed +48 bps vs. earlier reference6.30%Observed −16 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.09%Observed 4.35%Observed +26 bps vs. earlier reference4.39%Observed +4 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

Jan 3, 2026 – Jul 3, 2026
Historical mortgage and Treasury observations around Apr 3, 2026Each 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: 6.16% · Jan 8, 202630-year fixed mortgage: 6.06% · Jan 15, 202630-year fixed mortgage: 6.09% · Jan 22, 202630-year fixed mortgage: 6.10% · Jan 29, 202630-year fixed mortgage: 6.11% · Feb 5, 202630-year fixed mortgage: 6.09% · Feb 12, 202630-year fixed mortgage: 6.01% · Feb 19, 202630-year fixed mortgage: 5.98% · Feb 26, 202630-year fixed mortgage: 6.00% · Mar 5, 202630-year fixed mortgage: 6.11% · Mar 12, 202630-year fixed mortgage: 6.22% · Mar 19, 202630-year fixed mortgage: 6.38% · Mar 26, 202630-year fixed mortgage: 6.46% · Apr 2, 202630-year fixed mortgage: 6.37% · Apr 9, 202630-year fixed mortgage: 6.30% · Apr 16, 202630-year fixed mortgage: 6.23% · Apr 23, 202630-year fixed mortgage: 6.30% · Apr 30, 202630-year fixed mortgage: 6.37% · May 7, 202630-year fixed mortgage: 6.36% · May 14, 202630-year fixed mortgage: 6.51% · May 21, 202630-year fixed mortgage: 6.53% · May 28, 202630-year fixed mortgage: 6.48% · Jun 4, 202630-year fixed mortgage: 6.52% · Jun 11, 202630-year fixed mortgage: 6.47% · Jun 18, 202630-year fixed mortgage: 6.49% · Jun 25, 202630-year fixed mortgage: 6.43% · Jul 2, 202610-year Treasury: 4.17% · Jan 5, 202610-year Treasury: 4.18% · Jan 6, 202610-year Treasury: 4.15% · Jan 7, 202610-year Treasury: 4.19% · Jan 8, 202610-year Treasury: 4.18% · Jan 9, 202610-year Treasury: 4.19% · Jan 12, 202610-year Treasury: 4.18% · Jan 13, 202610-year Treasury: 4.15% · Jan 14, 202610-year Treasury: 4.17% · Jan 15, 202610-year Treasury: 4.24% · Jan 16, 202610-year Treasury: 4.30% · Jan 20, 202610-year Treasury: 4.26% · Jan 21, 202610-year Treasury: 4.26% · Jan 22, 202610-year Treasury: 4.24% · Jan 23, 202610-year Treasury: 4.22% · Jan 26, 202610-year Treasury: 4.24% · Jan 27, 202610-year Treasury: 4.26% · Jan 28, 202610-year Treasury: 4.24% · Jan 29, 202610-year Treasury: 4.26% · Jan 30, 202610-year Treasury: 4.29% · Feb 2, 202610-year Treasury: 4.28% · Feb 3, 202610-year Treasury: 4.29% · Feb 4, 202610-year Treasury: 4.21% · Feb 5, 202610-year Treasury: 4.22% · Feb 6, 202610-year Treasury: 4.22% · Feb 9, 202610-year Treasury: 4.16% · Feb 10, 202610-year Treasury: 4.18% · Feb 11, 202610-year Treasury: 4.09% · Feb 12, 202610-year Treasury: 4.04% · Feb 13, 202610-year Treasury: 4.05% · Feb 17, 202610-year Treasury: 4.09% · Feb 18, 202610-year Treasury: 4.08% · Feb 19, 202610-year Treasury: 4.08% · Feb 20, 202610-year Treasury: 4.03% · Feb 23, 202610-year Treasury: 4.04% · Feb 24, 202610-year Treasury: 4.05% · Feb 25, 202610-year Treasury: 4.02% · Feb 26, 202610-year Treasury: 3.97% · Feb 27, 202610-year Treasury: 4.05% · Mar 2, 202610-year Treasury: 4.06% · Mar 3, 202610-year Treasury: 4.09% · Mar 4, 202610-year Treasury: 4.13% · Mar 5, 202610-year Treasury: 4.15% · Mar 6, 202610-year Treasury: 4.12% · Mar 9, 202610-year Treasury: 4.15% · Mar 10, 202610-year Treasury: 4.21% · Mar 11, 202610-year Treasury: 4.27% · Mar 12, 202610-year Treasury: 4.28% · Mar 13, 202610-year Treasury: 4.23% · Mar 16, 202610-year Treasury: 4.20% · Mar 17, 202610-year Treasury: 4.26% · Mar 18, 202610-year Treasury: 4.25% · Mar 19, 202610-year Treasury: 4.39% · Mar 20, 202610-year Treasury: 4.34% · Mar 23, 202610-year Treasury: 4.39% · Mar 24, 202610-year Treasury: 4.33% · Mar 25, 202610-year Treasury: 4.42% · Mar 26, 202610-year Treasury: 4.44% · Mar 27, 202610-year Treasury: 4.35% · Mar 30, 202610-year Treasury: 4.30% · Mar 31, 202610-year Treasury: 4.33% · Apr 1, 202610-year Treasury: 4.31% · Apr 2, 202610-year Treasury: 4.35% · Apr 3, 202610-year Treasury: 4.34% · Apr 6, 202610-year Treasury: 4.33% · Apr 7, 202610-year Treasury: 4.29% · Apr 8, 202610-year Treasury: 4.29% · Apr 9, 202610-year Treasury: 4.31% · Apr 10, 202610-year Treasury: 4.30% · Apr 13, 202610-year Treasury: 4.26% · Apr 14, 202610-year Treasury: 4.29% · Apr 15, 202610-year Treasury: 4.32% · Apr 16, 202610-year Treasury: 4.26% · Apr 17, 202610-year Treasury: 4.26% · Apr 20, 202610-year Treasury: 4.30% · Apr 21, 202610-year Treasury: 4.30% · Apr 22, 202610-year Treasury: 4.34% · Apr 23, 202610-year Treasury: 4.31% · Apr 24, 202610-year Treasury: 4.35% · Apr 27, 202610-year Treasury: 4.36% · Apr 28, 202610-year Treasury: 4.42% · Apr 29, 202610-year Treasury: 4.40% · Apr 30, 202610-year Treasury: 4.39% · May 1, 202610-year Treasury: 4.45% · May 4, 202610-year Treasury: 4.43% · May 5, 202610-year Treasury: 4.36% · May 6, 202610-year Treasury: 4.41% · May 7, 202610-year Treasury: 4.38% · May 8, 202610-year Treasury: 4.42% · May 11, 202610-year Treasury: 4.46% · May 12, 202610-year Treasury: 4.46% · May 13, 202610-year Treasury: 4.47% · May 14, 202610-year Treasury: 4.59% · May 15, 202610-year Treasury: 4.61% · May 18, 202610-year Treasury: 4.67% · May 19, 202610-year Treasury: 4.57% · May 20, 202610-year Treasury: 4.57% · May 21, 202610-year Treasury: 4.56% · May 22, 202610-year Treasury: 4.50% · May 26, 202610-year Treasury: 4.48% · May 27, 202610-year Treasury: 4.45% · May 28, 202610-year Treasury: 4.45% · May 29, 202610-year Treasury: 4.47% · Jun 1, 202610-year Treasury: 4.46% · Jun 2, 202610-year Treasury: 4.49% · Jun 3, 202610-year Treasury: 4.47% · Jun 4, 202610-year Treasury: 4.55% · Jun 5, 202610-year Treasury: 4.56% · Jun 8, 202610-year Treasury: 4.53% · Jun 9, 202610-year Treasury: 4.55% · Jun 10, 202610-year Treasury: 4.45% · Jun 11, 202610-year Treasury: 4.48% · Jun 12, 202610-year Treasury: 4.47% · Jun 15, 202610-year Treasury: 4.43% · Jun 16, 202610-year Treasury: 4.49% · Jun 17, 202610-year Treasury: 4.46% · Jun 18, 202610-year Treasury: 4.51% · Jun 22, 202610-year Treasury: 4.50% · Jun 23, 202610-year Treasury: 4.41% · Jun 24, 202610-year Treasury: 4.40% · Jun 25, 202610-year Treasury: 4.38% · Jun 26, 202610-year Treasury: 4.38% · Jun 29, 202610-year Treasury: 4.44% · Jun 30, 202610-year Treasury: 4.48% · Jul 1, 202610-year Treasury: 4.49% · Jul 2, 2026Jan 3, 2026Apr 3, 2026Jul 3, 2026
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$1,888.32/month

6.46% · Apr 2, 2026

At the later reference$1,856.92/month

6.30% · Apr 30, 2026

The illustrative principal-and-interest payment is $31.40 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.

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