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

Jobs · ORIGINAL ECONOMIC RELEASE

Job Openings and Labor Turnover: July 2025

The number of job openings was little changed at 7.2 million in July, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were unchanged at 5.3 million. Within separations, both quits…

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 number of job openings was little changed at 7.2 million in July, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were unchanged at 5.3 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.8 million) were unchanged.

This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month.

Job Openings

The number and rate of job openings were little changed at 7.2 million and 4.3 percent, respectively, in July. The number of job openings decreased in health care and social assistance (-181,000); arts, entertainment, and recreation (-62,000); and mining and logging (-13,000). (See table 1.)

Hires

In July, the number and rate of hires were unchanged at 5.3 million and 3.3 percent, respectively. The number of hires increased in other services (+86,000). (See table 2.)

Separations

Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm.

In July, the number and rate of total separations were unchanged at 5.3 million and 3.3 percent, respectively. Total separations were little changed in all industries. (See table 3.)

In July, the number and rate of quits were unchanged at 3.2 million and 2.0 percent, respectively. The number of quits increased in professional and business services (+197,000). Quits decreased in construction (-80,000) and in transportation, warehousing, and utilities (-49,000). (See table 4.)

The number and rate of layoffs and discharges in July were unchanged at 1.8 million and 1.1 percent, respectively. Layoffs and discharges decreased in professional and business services (-130,000) but increased in federal government (+5,000). (See table 5.)

The number of other separations decreased to 272,000 (-63,000) in July. (See table 6.)

Establishment Size Class

In July, establishments with 1 to 9 employees and establishments with 5,000 or more employees showed little or no change in job openings, hires, and separations rates. (See table 7.)

June 2025 Revisions

The number of job openings for June was revised down by 80,000 to 7.4 million, the number of hires was revised up by 63,000 to 5.3 million, and the number of total separations was revised up by 281,000 to 5.3 million. Within separations, the number of quits was revised up by 67,000 to 3.2 million, and the number of layoffs and discharges was revised up by 192,000 to 1.8 million. (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 Sep 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.

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 earlierAug 4, 2025Publication referenceSep 3, 202530 days laterOct 3, 2025
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.72%Observed 6.56%Observed −16 bps vs. earlier reference6.34%Observed −22 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.22%Observed 4.22%Observed Unchanged vs. earlier reference4.13%Observed −9 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 3, 2025 – Dec 3, 2025
Historical mortgage and Treasury observations around Sep 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.3.50%5.25%7.00%Publication date30-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, 202530-year fixed mortgage: 6.30% · Oct 9, 202530-year fixed mortgage: 6.27% · Oct 16, 202530-year fixed mortgage: 6.19% · Oct 23, 202530-year fixed mortgage: 6.17% · Oct 30, 202530-year fixed mortgage: 6.22% · Nov 6, 202530-year fixed mortgage: 6.24% · Nov 13, 202530-year fixed mortgage: 6.26% · Nov 20, 202530-year fixed mortgage: 6.23% · Nov 26, 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, 202510-year Treasury: 4.18% · Oct 6, 202510-year Treasury: 4.14% · Oct 7, 202510-year Treasury: 4.13% · Oct 8, 202510-year Treasury: 4.14% · Oct 9, 202510-year Treasury: 4.05% · Oct 10, 202510-year Treasury: 4.03% · Oct 14, 202510-year Treasury: 4.05% · Oct 15, 202510-year Treasury: 3.99% · Oct 16, 202510-year Treasury: 4.02% · Oct 17, 202510-year Treasury: 4.00% · Oct 20, 202510-year Treasury: 3.98% · Oct 21, 202510-year Treasury: 3.97% · Oct 22, 202510-year Treasury: 4.01% · Oct 23, 202510-year Treasury: 4.02% · Oct 24, 202510-year Treasury: 4.01% · Oct 27, 202510-year Treasury: 3.99% · Oct 28, 202510-year Treasury: 4.08% · Oct 29, 202510-year Treasury: 4.11% · Oct 30, 202510-year Treasury: 4.11% · Oct 31, 202510-year Treasury: 4.13% · Nov 3, 202510-year Treasury: 4.10% · Nov 4, 202510-year Treasury: 4.17% · Nov 5, 202510-year Treasury: 4.11% · Nov 6, 202510-year Treasury: 4.11% · Nov 7, 202510-year Treasury: 4.13% · Nov 10, 202510-year Treasury: 4.08% · Nov 12, 202510-year Treasury: 4.11% · Nov 13, 202510-year Treasury: 4.14% · Nov 14, 202510-year Treasury: 4.13% · Nov 17, 202510-year Treasury: 4.12% · Nov 18, 202510-year Treasury: 4.13% · Nov 19, 202510-year Treasury: 4.10% · Nov 20, 202510-year Treasury: 4.06% · Nov 21, 202510-year Treasury: 4.04% · Nov 24, 202510-year Treasury: 4.01% · Nov 25, 202510-year Treasury: 4.00% · Nov 26, 202510-year Treasury: 4.02% · Nov 28, 202510-year Treasury: 4.09% · Dec 1, 202510-year Treasury: 4.09% · Dec 2, 202510-year Treasury: 4.06% · Dec 3, 2025Jun 3, 2025Sep 3, 2025Dec 3, 2025
30-year fixed mortgage26 observations10-year Treasury126 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$1,908.06/month

6.56% · Aug 28, 2025

At the later reference$1,864.75/month

6.34% · Oct 2, 2025

The illustrative principal-and-interest payment is $43.31 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.

Understand the policy connection →See current advertised mortgage options →