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

Jobs · ORIGINAL ECONOMIC RELEASE

Job Openings and Labor Turnover: December 2025

The number of job openings continued to trend down to 6.5 million in December, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.3 million each. Within…

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 continued to trend down to 6.5 million in December, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.3 million each. Within separations, quits (3.2 million) were unchanged while layoffs and discharges (1.8 million) were little changed.

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 of job openings trended down to 6.5 million (-386,000) in December and was down by 966,000 over the year. The job openings rate, at 3.9 percent, changed little over the month. The number of job openings decreased in professional and business services (-257,000), retail trade (-195,000), and finance and insurance (-120,000). (See table 1.)

Hires

In December, the number and rate of hires were little changed at 5.3 million and 3.3 percent, respectively. The number of hires increased in real estate and rental and leasing (+38,000) and in state and local government, excluding education (+36,000). Hires decreased in federal government (-11,000). (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 December, the number and rate of total separations were little changed at 5.3 million and 3.3 percent, respectively. The number of total separations decreased in professional and business services (-212,000) and in private educational services (-20,000). Total separations increased in transportation, warehousing, and utilities (+110,000) and in federal government (+10,000). (See table 3.)

In December, the number and rate of quits were unchanged at 3.2 million and 2.0 percent, respectively. The number of quits decreased in professional and business services (-151,000) and in private educational services (-19,000). Quits increased in retail trade (+87,000) and in information (+28,000). (See table 4.)

The number of layoffs and discharges in December was little changed at 1.8 million. The layoffs and discharges rate was unchanged at 1.1 percent. Layoffs and discharges increased in transportation, warehousing, and utilities (+103,000) but decreased in finance and insurance (-20,000). (See table 5.)

The number of other separations was little changed at 285,000 in December. (See table 6.)

Establishment Size Class

In December, 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.)

November 2025 Revisions

The number of job openings for November was revised down by 218,000 to 6.9 million, the number of hires was revised up by 6,000 to 5.1 million, and the number of total separations was revised up by 64,000 to 5.1 million. Within separations, the number of quits was revised up by 32,000 to 3.2 million, the number of layoffs and discharges was revised up by 14,000 to 1.7 million, and the number of other separations was revised up by 17,000 to 249,000. (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 Feb 5, 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.

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 earlierJan 6, 2026Publication referenceFeb 5, 202630 days laterMar 7, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.15%Observed 6.11%Observed −4 bps vs. earlier reference6.00%Observed −11 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.18%Observed 4.21%Observed +3 bps vs. earlier reference4.15%Observed −6 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

Nov 5, 2025 – May 5, 2026
Historical mortgage and Treasury observations around Feb 5, 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%5.00%6.50%Publication date30-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, 202530-year fixed mortgage: 6.19% · Dec 4, 202530-year fixed mortgage: 6.22% · Dec 11, 202530-year fixed mortgage: 6.21% · Dec 18, 202530-year fixed mortgage: 6.18% · Dec 24, 202530-year fixed mortgage: 6.15% · Dec 31, 202530-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, 202610-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, 202510-year Treasury: 4.11% · Dec 4, 202510-year Treasury: 4.14% · Dec 5, 202510-year Treasury: 4.17% · Dec 8, 202510-year Treasury: 4.18% · Dec 9, 202510-year Treasury: 4.13% · Dec 10, 202510-year Treasury: 4.14% · Dec 11, 202510-year Treasury: 4.19% · Dec 12, 202510-year Treasury: 4.18% · Dec 15, 202510-year Treasury: 4.15% · Dec 16, 202510-year Treasury: 4.16% · Dec 17, 202510-year Treasury: 4.12% · Dec 18, 202510-year Treasury: 4.16% · Dec 19, 202510-year Treasury: 4.17% · Dec 22, 202510-year Treasury: 4.18% · Dec 23, 202510-year Treasury: 4.15% · Dec 24, 202510-year Treasury: 4.14% · Dec 26, 202510-year Treasury: 4.12% · Dec 29, 202510-year Treasury: 4.14% · Dec 30, 202510-year Treasury: 4.18% · Dec 31, 202510-year Treasury: 4.19% · Jan 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, 2026Nov 5, 2025Feb 5, 2026May 5, 2026
30-year fixed mortgage26 observations10-year Treasury124 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% · Feb 5, 2026

At the later reference$1,798.65/month

6.00% · Mar 5, 2026

The illustrative principal-and-interest payment is $21.27 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 →