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

Jobs · ORIGINAL ECONOMIC RELEASE

August 2026 Employment Situation

Total nonfarm payroll employment increased by 162,000 in August, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places 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 162,000 in August, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places and in local government education. The information industry lost 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

The unemployment rate was unchanged at 4.1 percent in August, and the number of unemployed people changed little at 7.0 million. Both measures changed little over the year. (See table A-1.)

Among the major worker groups, the unemployment rate for people who are Asian declined to 3.2 percent in August. The rate for teenagers edged up to 14.1 percent over the month, mostly offsetting a decline in the prior month. The jobless rates for adult men (4.0 percent), adult women (3.5 percent), and people who are White (3.7 percent), Black (6.0 percent), or Hispanic (4.8 percent) showed little change in August. (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 1.9 million in August. The long-term unemployed accounted for 27.0 percent of all unemployed people. (See table A-12.)

The labor force participation rate edged up to 61.6 percent in August but is down by 0.5 percentage point since January. The employment-population ratio, at 59.1 percent, changed little over the month and since January. (See table A-1.)

The number of people employed part time for economic reasons decreased by 414,000 to 4.4 million in August. 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 August, the number of people not in the labor force who currently want a job changed little 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 changed little at 1.7 million in August. 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 in August at 441,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment rose by 162,000 in August, higher than the average monthly gain of 31,000 over the prior 12 months. In August, employment increased in food services and drinking places and in local government education. The information industry lost jobs. (See table B-1.)

Employment in food services and drinking places increased by 59,000 in August, well above the average monthly gain of 12,000 over the prior 12 months.

Local government education added 42,000 jobs in August, largely offsetting a decrease in the prior month. Local government education has shown little net change since January 2025.

In August, employment in manufacturing continued its upward trend (+16,000) and is up by 58,000 since a recent low in December 2025. Employment in machinery manufacturing (+6,000) and in fabricated metal product manufacturing (+6,000) continued trending up in August.

Employment in health care continued to trend up in August (+13,000) but at a slower pace than the average monthly gain over the prior 12 months (+32,000). Over the month, home health care services (+11,000) and hospitals (+8,000) added jobs.

Information employment declined by 23,000 in August, following losses that had averaged 8,000 per month over the prior 12 months. In August, job losses occurred in computing infrastructure providers, data processing, web hosting, and related services (-8,000), in publishing industries (-7,000), and in broadcasting and content providers (-5,000).

Construction employment changed little in August (+22,000). Employment in nonresidential specialty trade contractors continued to trend up (+8,000), similar to the average monthly gain over the prior 12 months (+6,000).

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

In August, average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3 percent, to $37.75. Over the year, average hourly earnings have increased by 3.1 percent. In August, average hourly earnings of private-sector production and nonsupervisory employees rose by 11 cents, or 0.3 percent, to $32.53. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls edged up by 0.1 hour to 34.4 hours in August. In manufacturing, the average workweek edged up by 0.1 hour to 40.5 hours, and overtime was unchanged at 3.1 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 June was revised up by 11,000, from +20,000 to +31,000, and the change for July was revised up by 44,000, from -23,000 to +21,000. With these revisions, employment in June and July combined is 55,000 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.)

The Employment Situation for September 2026 is scheduled to be published on Friday, October 2, 2026, at 8:30 a.m. (ET).

Source: U.S. Bureau of Labor Statistics · Original release Sep 4, 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 earlierAug 5, 2026Publication referenceSep 4, 202630 days laterOct 4, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.66%Observed 6.71%Observed +5 bps vs. earlier reference7.28%Observed +57 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.63%Observed 4.78%Observed +15 bps vs. earlier reference5.28%Observed +50 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

Jun 4, 2026 – Dec 4, 2026
Historical mortgage and Treasury observations around Sep 4, 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.4.00%5.75%7.50%Publication date30-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, 202630-year fixed mortgage: 6.49% · Jul 9, 202630-year fixed mortgage: 6.55% · Jul 16, 202630-year fixed mortgage: 6.58% · Jul 23, 202630-year fixed mortgage: 6.66% · Jul 30, 202630-year fixed mortgage: 6.69% · Aug 6, 202630-year fixed mortgage: 6.67% · Aug 13, 202630-year fixed mortgage: 6.65% · Aug 20, 202630-year fixed mortgage: 6.66% · Aug 27, 202630-year fixed mortgage: 6.71% · Sep 3, 202630-year fixed mortgage: 6.76% · Sep 10, 202630-year fixed mortgage: 6.95% · Sep 17, 202630-year fixed mortgage: 7.03% · Sep 24, 202630-year fixed mortgage: 7.28% · Oct 1, 202630-year fixed mortgage: 7.40% · Oct 8, 202630-year fixed mortgage: 7.40% · Oct 15, 202630-year fixed mortgage: 7.32% · Oct 22, 202630-year fixed mortgage: 7.24% · Oct 29, 202630-year fixed mortgage: 7.18% · Nov 5, 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, 202610-year Treasury: 4.48% · Jul 6, 202610-year Treasury: 4.55% · Jul 7, 202610-year Treasury: 4.56% · Jul 8, 202610-year Treasury: 4.54% · Jul 9, 202610-year Treasury: 4.56% · Jul 10, 202610-year Treasury: 4.62% · Jul 13, 202610-year Treasury: 4.58% · Jul 14, 202610-year Treasury: 4.55% · Jul 15, 202610-year Treasury: 4.57% · Jul 16, 202610-year Treasury: 4.55% · Jul 17, 202610-year Treasury: 4.60% · Jul 20, 202610-year Treasury: 4.63% · Jul 21, 202610-year Treasury: 4.67% · Jul 22, 202610-year Treasury: 4.71% · Jul 23, 202610-year Treasury: 4.69% · Jul 24, 202610-year Treasury: 4.65% · Jul 27, 202610-year Treasury: 4.61% · Jul 28, 202610-year Treasury: 4.67% · Jul 29, 202610-year Treasury: 4.68% · Jul 30, 202610-year Treasury: 4.75% · Jul 31, 202610-year Treasury: 4.70% · Aug 3, 202610-year Treasury: 4.63% · Aug 4, 202610-year Treasury: 4.63% · Aug 5, 202610-year Treasury: 4.69% · Aug 6, 202610-year Treasury: 4.65% · Aug 7, 202610-year Treasury: 4.72% · Aug 10, 202610-year Treasury: 4.70% · Aug 11, 202610-year Treasury: 4.68% · Aug 12, 202610-year Treasury: 4.63% · Aug 13, 202610-year Treasury: 4.68% · Aug 14, 202610-year Treasury: 4.72% · Aug 17, 202610-year Treasury: 4.71% · Aug 18, 202610-year Treasury: 4.65% · Aug 19, 202610-year Treasury: 4.69% · Aug 20, 202610-year Treasury: 4.74% · Aug 21, 202610-year Treasury: 4.70% · Aug 24, 202610-year Treasury: 4.64% · Aug 25, 202610-year Treasury: 4.66% · Aug 26, 202610-year Treasury: 4.67% · Aug 27, 202610-year Treasury: 4.73% · Aug 28, 202610-year Treasury: 4.75% · Aug 31, 202610-year Treasury: 4.79% · Sep 1, 202610-year Treasury: 4.79% · Sep 2, 202610-year Treasury: 4.77% · Sep 3, 202610-year Treasury: 4.78% · Sep 4, 202610-year Treasury: 4.80% · Sep 8, 202610-year Treasury: 4.83% · Sep 9, 202610-year Treasury: 4.95% · Sep 10, 202610-year Treasury: 4.96% · Sep 11, 202610-year Treasury: 4.97% · Sep 14, 202610-year Treasury: 5.00% · Sep 15, 202610-year Treasury: 5.01% · Sep 16, 202610-year Treasury: 4.94% · Sep 17, 202610-year Treasury: 5.01% · Sep 18, 202610-year Treasury: 4.96% · Sep 21, 202610-year Treasury: 4.96% · Sep 22, 202610-year Treasury: 5.11% · Sep 23, 202610-year Treasury: 5.18% · Sep 24, 202610-year Treasury: 5.17% · Sep 25, 202610-year Treasury: 5.24% · Sep 28, 202610-year Treasury: 5.26% · Sep 29, 202610-year Treasury: 5.29% · Sep 30, 202610-year Treasury: 5.24% · Oct 1, 202610-year Treasury: 5.28% · Oct 2, 202610-year Treasury: 5.31% · Oct 5, 202610-year Treasury: 5.27% · Oct 6, 202610-year Treasury: 5.28% · Oct 7, 202610-year Treasury: 5.22% · Oct 8, 202610-year Treasury: 5.24% · Oct 9, 202610-year Treasury: 5.21% · Oct 13, 202610-year Treasury: 5.19% · Oct 14, 202610-year Treasury: 5.10% · Oct 15, 202610-year Treasury: 5.09% · Oct 16, 202610-year Treasury: 5.15% · Oct 19, 202610-year Treasury: 5.12% · Oct 20, 202610-year Treasury: 5.13% · Oct 21, 202610-year Treasury: 4.96% · Oct 22, 202610-year Treasury: 5.00% · Oct 23, 202610-year Treasury: 5.00% · Oct 26, 202610-year Treasury: 4.99% · Oct 27, 202610-year Treasury: 5.05% · Oct 28, 202610-year Treasury: 4.98% · Oct 29, 202610-year Treasury: 4.94% · Oct 30, 202610-year Treasury: 4.91% · Nov 2, 202610-year Treasury: 4.95% · Nov 3, 202610-year Treasury: 4.90% · Nov 4, 202610-year Treasury: 4.84% · Nov 5, 202610-year Treasury: 4.86% · Nov 6, 202610-year Treasury: 4.88% · Nov 9, 202610-year Treasury: 4.98% · Nov 10, 2026Jun 4, 2026Sep 4, 2026Dec 4, 2026
30-year fixed mortgage23 observations10-year Treasury110 observations
Dots show published observations only. Missing dates remain blank, with no interpolation. The future portion of the window has no observations. 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$1,937.82/month

6.71% · Sep 3, 2026

At the later reference$2,052.64/month

7.28% · Oct 1, 2026

The illustrative principal-and-interest payment is $114.81 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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