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

Jobs · ORIGINAL ECONOMIC RELEASE

Job Openings and Labor Turnover: October 2006

The job openings, hires, and total separations rates showed little or no change in October, the Bureau of Labor Statistics of the U.S. Depart- ment of Labor reported today. This release includes estimates of the num- ber and rate of job…

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.

The job openings, hires, and total separations rates showed little or no change in October, the Bureau of Labor Statistics of the U.S. Depart- ment of Labor reported today. This release includes estimates of the num- ber and rate of job openings, hires, and separations for the total nonfarm sector by industry and geographic region.

Job Openings

On the last business day of October 2006, there were 4.2 million job openings in the United States, and the job openings rate was 3.0 percent. The job openings rate was unchanged over the month and has been little changed since November 2005. In October, the job openings rate rose in manufacturing and in education and health services, but fell in trade, transportation, and utilities. None of the regions experienced a signi- ficant change in the job openings rate over the month. The industries with the highest seasonally adjusted job openings rate in October 2006 were leisure and hospitality and professional and business services (4.1 percent each), and education and health services (4.0 percent). (See table 1.)

Over the year, the job openings rate rose in durable manufacturing, non- durable manufacturing, information, health care and social assistance, and state and local government. The rate also rose over the year in the North- east and West regions. The job openings rate did not decline significantly over the year in any industry or region. (See table 5.)

Hires

The hires rate was little changed at 3.6 percent in October. Hires are any additions to the payroll during the month. In October, the hires rate did not rise significantly in any private sector industry but fell in go- vernment. Geographically, the hires rate did not change significantly in any region over the month. The seasonally adjusted hires rate was highest in October in the leisure and hospitality industry (6.6 percent). (See table 2.) From October 2005 to October 2006, the hires rate rose in fi- nance and insurance but fell in construction and durable manufacturing. (See table 6.)

Separations

The total separations, or turnover, rate was unchanged at 3.2 percent in October. Separations are terminations of employment that occur at any time during the month. In October, the total separations rate increased in professional and business services but decreased in government. Geo- graphically, the separations rate did not change significantly in any re- gion over the month. From October 2005 to October 2006, the total sepa- rations rate increased in finance and insurance and in real estate and rental and leasing. The total separations rate decreased over the year in accommodations and food services. (See tables 3 and 7.)

Total separations include quits (voluntary separations), layoffs and discharges (involuntary separations), and other separations (including retirements). The quits rate, which can serve as a barometer of workers' ability to change jobs, was little changed at 1.9 percent in October. Over the month, the quits rate did not rise significantly in any indus- try or region but declined in government. In October, the seasonally ad- justed quits rate was highest in the leisure and hospitality industry (4.0 percent), which also had the highest hires rate. (See table 4.)

Over the year, the quits rate rose in finance and insurance; real estate and rental and leasing; and professional and business services. Over the same time period, the quits rate fell in construction; accommodations and food services; and other services. (See table 8.)

The other two components of total separations--layoffs and discharges, and other separations--are not seasonally adjusted. The layoffs and dis- charges rate, at 1.2 percent, was essentially unchanged from the prior year. For October 2006, the arts, entertainment, and recreation industry had the highest layoffs and discharges rate (4.0 percent). From October 2005 to October 2006, the other separations rate was unchanged at 0.2 per- cent. (See tables 9 and 10.)

Flows in the Labor Market

Hires and separations data help show dynamic flows in the labor market. Over the 12 months ending in October 2006, hires have averaged 4.9 million per month and separations have averaged 4.5 million per month (not season- ally adjusted). The comparable figures for the prior 12-month period were 4.8 million hires and 4.6 million separations. (See the Technical Note for additional information on these measures.)

For additional information, please read the Technical Note or visit the JOLTS Web site at http://www.bls.gov/jlt/. Additional information about JOLTS also may be obtained by e-mailing Joltsinfo@bls.gov or by calling (202) 691-5870.

The Job Openings and Labor Turnover release for November 2006 is sched- uled to be issued on Wednesday, January 10, 2007.

Source: U.S. Bureau of Labor Statistics · Original release Dec 12, 2006.

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.

Separate job openings from hiring

JOLTS measures unfilled openings on the last business day of a month, while hires and separations cover the whole month. Openings are not new payroll jobs. Read vacancies alongside hiring, quits and layoffs, and distinguish counts from rates and revised estimates. These measures add detail about labor demand and turnover to the policy discussion. The benchmark window below describes borrowing conditions around publication; it cannot attribute a rate change to this report. BLS Job Openings and Labor Turnover Survey.

Nearest published observation on or before each target date
Benchmark30 days earlierNov 12, 2006Publication referenceDec 12, 200630 days laterJan 11, 2007
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.33%Observed 6.11%Observed −22 bps vs. earlier reference6.21%Observed +10 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the TreasuryUnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.UnavailableBefore available coverage, which starts Jan 4, 2016.

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

Sep 12, 2006 – Mar 12, 2007
Historical mortgage and Treasury observations around Dec 12, 2006Each 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.6.00%6.25%6.50%Publication date30-year fixed mortgage: 6.43% · Sep 14, 200630-year fixed mortgage: 6.40% · Sep 21, 200630-year fixed mortgage: 6.31% · Sep 28, 200630-year fixed mortgage: 6.30% · Oct 5, 200630-year fixed mortgage: 6.37% · Oct 12, 200630-year fixed mortgage: 6.36% · Oct 19, 200630-year fixed mortgage: 6.40% · Oct 26, 200630-year fixed mortgage: 6.31% · Nov 2, 200630-year fixed mortgage: 6.33% · Nov 9, 200630-year fixed mortgage: 6.24% · Nov 16, 200630-year fixed mortgage: 6.18% · Nov 22, 200630-year fixed mortgage: 6.14% · Nov 30, 200630-year fixed mortgage: 6.11% · Dec 7, 200630-year fixed mortgage: 6.12% · Dec 14, 200630-year fixed mortgage: 6.13% · Dec 21, 200630-year fixed mortgage: 6.18% · Dec 28, 200630-year fixed mortgage: 6.18% · Jan 4, 200730-year fixed mortgage: 6.21% · Jan 11, 200730-year fixed mortgage: 6.23% · Jan 18, 200730-year fixed mortgage: 6.25% · Jan 25, 200730-year fixed mortgage: 6.34% · Feb 1, 200730-year fixed mortgage: 6.28% · Feb 8, 200730-year fixed mortgage: 6.30% · Feb 15, 200730-year fixed mortgage: 6.22% · Feb 22, 200730-year fixed mortgage: 6.18% · Mar 1, 200730-year fixed mortgage: 6.14% · Mar 8, 2007Sep 12, 2006Dec 12, 2006Mar 12, 2007
30-year fixed mortgage26 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$1,819.92/month

6.11% · Dec 7, 2006

At the later reference$1,839.35/month

6.21% · Jan 11, 2007

The illustrative principal-and-interest payment is $19.43 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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