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

Jobs · ORIGINAL ECONOMIC RELEASE

October 2026 Employment Situation

Total nonfarm payroll employment rose by 165,000 in October, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, 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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Total nonfarm payroll employment rose by 165,000 in October, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, in health care, and in transportation and warehousing.

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 7.1 million, changed little in October. The unemployment rate has remained in a narrow range of 4.1 percent to 4.3 percent since March. (See table A-1.)

Among the major worker groups, the unemployment rates showed little or no change in October for adult men (3.9 percent), adult women (3.6 percent), teenagers (13.9 percent), and people who are White (3.7 percent), Black (6.6 percent), Asian (2.8 percent), or Hispanic (4.7 percent). (See tables A-1, A-2, and A-3.)

The number of long-term unemployed (those jobless for 27 weeks or more), at 2.0 million, changed little over the month. The long-term unemployed accounted for 27.6 percent of all unemployed people. (See table A-12.)

Both the labor force participation rate, at 61.9 percent, and the employment-population ratio, at 59.3 percent, changed little in October. These measures have shown little net change since January. (See table A-1.)

The number of people employed part time for economic reasons increased by 339,000 to 4.8 million in October. 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 October, the number of people not in the labor force who currently want a job changed little at 6.0 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 1.6 million in October. 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 448,000. (See Summary table A.)

Establishment Survey Data

Total nonfarm payroll employment rose by 165,000 in October, higher than the average monthly gain of 48,000 over the prior 12 months. In October, employment increased in professional and business services, in health care, and in transportation and warehousing. (See table B-1.)

Employment in professional and business services increased by 70,000 in October, well above the average monthly gain of 15,000 over the prior 12 months. In October, employment continued to trend up in professional, scientific, and technical services (+33,000), in administrative and support and waste management and remediation services (+28,000), and in management of companies and enterprises (+9,000). Professional and business services has added 269,000 jobs since a recent low in October 2025.

Health care added 42,000 jobs in October, higher than the average monthly gain of 31,000 over the prior 12 months. In October, employment gains occurred in hospitals (+16,000), home health care services (+11,000), and outpatient care centers (+5,000).

In October, transportation and warehousing added 25,000 jobs, reflecting growth in couriers and messengers (+17,000) and air transportation (+4,000). Transportation and warehousing has added 104,000 jobs since a recent employment low in February, with couriers and messengers (+71,000) contributing most of the gain.

Manufacturing employment continued to trend up in October (+19,000) and has increased by 101,000 since a recent low in December 2025. In October, job gains occurred in computer and electronic product manufacturing (+7,000), machinery manufacturing (+4,000), and primary metal manufacturing (+4,000).

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; construction; wholesale trade; retail trade; information; financial activities; social assistance; leisure and hospitality; other services; and government.

In October, average hourly earnings for all employees on private nonfarm payrolls increased by 14 cents, or 0.4 percent, to $38.00. Over the past 12 months, average hourly earnings have increased by 3.1 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees rose by 12 cents, or 0.4 percent, to $32.75. (See tables B-3 and B-8.)

The average workweek for all employees on private nonfarm payrolls remained at 34.4 hours in October. In manufacturing, the average workweek was unchanged at 40.5 hours, and overtime edged up by 0.1 hour to 3.1 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls declined by 0.1 hour to 33.8 hours. (See tables B-2 and B-7.)

The change in total nonfarm payroll employment for August was revised up by 53,000, from +133,000 to +186,000, and the change for September was revised up by 31,000, from +29,000 to +60,000. With these revisions, employment in August and September combined is 84,000 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 November 2026 is scheduled to be published on Friday, December 4, 2026, at 8:30 a.m. (ET).

Source: U.S. Bureau of Labor Statistics · Original release Nov 6, 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 earlierOct 7, 2026Publication referenceNov 6, 202630 days laterDec 6, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®7.28%Observed 7.18%Observed −10 bps vs. earlier referenceUnavailableWindow ends Dec 6, 2026.
10-year TreasuryDaily par yieldU.S. Department of the Treasury5.28%Observed 4.86%Observed −42 bps vs. earlier referenceUnavailableWindow ends Dec 6, 2026.

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.

The following 30-day window ends Dec 6, 2026. A completed-window comparison will appear when that date has passed and the source history covers it.

Six months around publication

Aug 6, 2026 – Feb 6, 2027
Historical mortgage and Treasury observations around Nov 6, 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.4.50%6.00%7.50%Publication date30-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: 4.69% · 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, 2026Aug 6, 2026Nov 6, 2026Feb 6, 2027
30-year fixed mortgage14 observations10-year Treasury67 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.
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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