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NONFARM PAYROLL EMPLOYMENT
Definition
Employment statistics are often important for individuals involved with forex trading because they can be used as a key indicator of the nation’s economy and subsequent currency fluctuation or stability.
The nonfarm payroll employment figures represent the number of payroll jobs at all nonfarm businesses and government agencies. The nonfarm payroll statistic is included in the monthly Employment Situation report and is accompanied by information on unemployment rates, average workweek hours, and average weekly and hourly earnings.
FX Trading Importance
Forex brokers and traders can use the nonfarm payroll employment numbers and other employment statistics in order to evaluate the current and probable future rate of national economic growth. Hourly earnings trends also reveal information about the market’s supply and demand conditions; these conditions can give clues about the overall resource utilization of the economy. Forex trading platforms will often reflect changes to these numbers.
Nonfarm Payroll Employment Source
The statistic is compiled by the US Department of Labor, Bureau of Labor Statistics.
Nonfarm Payroll Employment Availability
Nonfarm payroll employment numbers can be found in the Employment Situation Report.
Nonfarm Payroll Employment Frequency
The report is released on the first Friday of the month at 8:30 AM EST.
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