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

Jobs · ORIGINAL ECONOMIC RELEASE

Job Openings and Labor Turnover: January 2026

The number of job openings was little changed at 6.9 million in January, the U.S. Bureau of Labor Statistics reported today. Hires were unchanged at 5.3 million, while total separations changed little at 5.1 million. Within separations,…

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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The number of job openings was little changed at 6.9 million in January, the U.S. Bureau of Labor Statistics reported today. Hires were unchanged at 5.3 million, while total separations changed little at 5.1 million. Within separations, quits (3.1 million) and layoffs and discharges (1.6 million) changed little.

This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by region, and by establishment size class. This release also includes 2025 annual estimates for job openings, hires, and separations. 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 6.9 million and 4.2 percent, respectively, in January. The number of job openings increased in finance and insurance (+184,000). (See table 1.)

Hires

In January, the number and rate of hires were unchanged at 5.3 million and 3.3 percent, respectively. Hires decreased in transportation, warehousing, and utilities (-67,000) and in real estate and rental and leasing (-20,000). (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.

The number and rate of total separations in January were little changed at 5.1 million and 3.2 percent, respectively. The number of total separations decreased in transportation, warehousing, and utilities (-79,000) and in federal government (-10,000). (See table 3.)

In January, the number of quits was little changed at 3.1 million. The quits rate, at 2.0 percent, remained unchanged. The number of quits increased in private educational services (+16,000). (See table 4.)

In January, the number and rate of layoffs and discharges changed little at 1.6 million and 1.0 percent, respectively. Layoffs and discharges decreased in transportation, warehousing, and utilities (-55,000). (See table 5.)

The number of other separations changed little at 337,000 in January. (See table 6.)

Establishment Size Class

In January, 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.)

December 2025 Revisions

The number of job openings for December was revised up by 8,000 to 6.6 million, the number of hires was revised down by 21,000 to 5.3 million, and the number of total separations was revised down by 48,000 to 5.2 million. Within separations, the number of quits was revised up by 21,000 to 3.2 million, and the number of layoffs and discharges was revised down by 96,000 to 1.7 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. The annual revision process also contributed to the December revisions)

Annual Levels and Rates

Consistent with BLS practice, annual estimates are published for not seasonally adjusted data each year with the January news release. For details about how these estimates are calculated, see the technical note.

In 2025, the annual average job openings level was 7.1 million, a decrease of 571,000 from 2024. The annual average job openings rate was 4.3 percent in 2025, compared to 4.6 percent in 2024. (See tables 15 and 16.)

In 2025, the annual hires level was 63.0 million, a decrease of 1.5 million from 2024. Annual total separations decreased by 251,000 in 2025 to 62.8 million. Annual quits decreased by 1.3 million in 2025 to 38.0 million and accounted for 60.6 percent of total separations. Annual layoffs and discharges increased by 1.2 million in 2025 to 21.2 million and accounted for 33.8 percent of total separations. Annual other separations decreased by 224,000 in 2025 to 3.5 million and accounted for 5.6 percent of total separations. (See tables 17 through 26.)

The annual average hires rate for 2025 was 3.3 percent, down from 3.4 percent in 2024. The annual average total separations rate for 2025 was 3.3 percent and was unchanged from 2024. The 2025 annual average rates for the components of total separations were 2.0 percent for quits, 1.1 percent for layoffs and discharges, and 0.2 percent for other separations. (See tables 17 through 26.)

Annual Revisions to Job Openings and Labor Turnover Data

The JOLTS data are revised annually to reflect updates to the Current Employment Statistics (CES) employment estimates. The JOLTS employment levels (not published) are ratio-adjusted to the CES employment levels, and the resulting ratios are applied to all JOLTS data elements. This annual benchmarking process results in revisions to both the seasonally adjusted and not seasonally adjusted JOLTS data series. The seasonally adjusted data are recalculated for the most recent 5 years to reflect updated seasonal adjustment factors. Further, the alignment methodology creates a dependency of the not seasonally adjusted estimates on the seasonal adjustment process. Therefore, the data series that are not seasonally adjusted are also recalculated for the most recent 5 years to reflect the effect of the updated seasonal adjustment factors on the alignment process.

Tables B through G below present revised total nonfarm data for January through December 2025. The December 2025 revisions also reflect the routine incorporation of additional sample receipts into the final December estimates. Tables presenting revisions to JOLTS estimates for January 2021 through December 2025 will be available concurrently with the release on the JOLTS website. The website also contains all revised seasonally adjusted and not seasonally adjusted data. The revision tables and data can be accessed through the JOLTS homepage at www.bls.gov/jlt/.

(p) Preliminary NOTE: Data are revised with the release of January data to incorporate the annual updates to the Current Employment Statistics employment estimates and the JOLTS seasonal adjustment factors.

Source: U.S. Bureau of Labor Statistics · Original release Mar 13, 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 earlierFeb 11, 2026Publication referenceMar 13, 202630 days laterApr 12, 2026
30-year fixed mortgageNational weekly averageFreddie Mac Primary Mortgage Market Survey®6.11%Observed 6.11%Observed Unchanged vs. earlier reference6.37%Observed +26 bps vs. publication reference
10-year TreasuryDaily par yieldU.S. Department of the Treasury4.18%Observed 4.28%Observed +10 bps vs. earlier reference4.31%Observed +3 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

Dec 13, 2025 – Jun 13, 2026
Historical mortgage and Treasury observations around Mar 13, 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%5.25%7.00%Publication date30-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, 202630-year fixed mortgage: 6.37% · May 7, 202630-year fixed mortgage: 6.36% · May 14, 202630-year fixed mortgage: 6.51% · May 21, 202630-year fixed mortgage: 6.53% · May 28, 202630-year fixed mortgage: 6.48% · Jun 4, 202630-year fixed mortgage: 6.52% · Jun 11, 202610-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, 202610-year Treasury: 4.36% · May 6, 202610-year Treasury: 4.41% · May 7, 202610-year Treasury: 4.38% · May 8, 202610-year Treasury: 4.42% · May 11, 202610-year Treasury: 4.46% · May 12, 202610-year Treasury: 4.46% · May 13, 202610-year Treasury: 4.47% · May 14, 202610-year Treasury: 4.59% · May 15, 202610-year Treasury: 4.61% · May 18, 202610-year Treasury: 4.67% · May 19, 202610-year Treasury: 4.57% · May 20, 202610-year Treasury: 4.57% · May 21, 202610-year Treasury: 4.56% · May 22, 202610-year Treasury: 4.50% · May 26, 202610-year Treasury: 4.48% · May 27, 202610-year Treasury: 4.45% · May 28, 202610-year Treasury: 4.45% · May 29, 202610-year Treasury: 4.47% · Jun 1, 202610-year Treasury: 4.46% · Jun 2, 202610-year Treasury: 4.49% · Jun 3, 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, 2026Dec 13, 2025Mar 13, 2026Jun 13, 2026
30-year fixed mortgage26 observations10-year Treasury125 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% · Mar 12, 2026

At the later reference$1,870.63/month

6.37% · Apr 9, 2026

The illustrative principal-and-interest payment is $50.71 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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