NFP
Non-Farm Payroll
Non-Farm Payroll Report
The non-farm payrolls (NFP) report is an important economic indicator of the US economy released by the Bureau of Labor Statistics (BLS) under the “Employment Situation” report. This report measures the number of workers in the US who work in goods, manufacturing and construction, which make up 80% of the US workforce Excluding farm workers, government workers, private household workers, and non-profit workers.
The number of jobs added or lost to the US economy indicates the state of the US economy, and can influence the interest rate decisions of the Federal Open Market Committee (FOMC).
Key Components of the Non-Farm Payroll Report
- Unemployment rate
- The number of jobs increased or decreased in certain sectors
- US average hourly earnings
Traders watch this monthly report closely, because of its potential to influence global markets, create market movements, and cause volatility. Analysts and traders are trying to speculate on the upcoming NFP data ahead of the official report.
Which markets were most affected by the nonfarm payrolls report?
Forex market
US dollar and Forex currency pairs such as EUR/USD, GBP/USD, AUD/USD are heavily influenced by non-farm payroll data. Generally, If the data shows a healthy US economy with growth and jobs added, the US dollar is strong. Conversely, a sluggish economy with rising unemployment and possible interest rate cuts could cause traders to turn to stronger currencies.
Gold
The NFP report also had an impact on gold. For example, in the case where data reports show that the US economic situation is declining, and the US dollar seems weak to traders, traders may turn to safe assets such as Gold.
2023 Non-Farm Payroll Date
This report is released on the first Friday of each month, one hour before the opening of the US Stock market
| Moon | Day | Time (New York) |
|---|---|---|
| January | 6 | 08:30 |
| February | 3 | 08:30 |
| March | 3 | 08:30 |
| April | 7 | 08:30 |
| May | 5 | 08:30 |
| June | 2 | 08:30 |
| July | 7 | 08:30 |
| August | 4 | 08:30 |
| September | 1 | 08:30 |
| October | 6 | 08:30 |
| November | 3 | 08:30 |
| December | 1 | 08:30 |