NonFarm Payrolls (NFP) - What is it and why is it important?

👉 *What is NFP (Non Farm Payrolls)?*
◆ Economic indicator released monthly by the United States Department of Labor as part of a comprehensive report on the state of the labor market.

◆ It includes goods, construction and manufacturing companies in the US.

◆ It doesn’t include farm workers, private household employees, or non-profit organization employees.
The number released is the change in nonfarm payrolls, compared to the previous month.

👉*Why is NFP so important?*
◆It is important because it shows the health of the private sectors as it shows the number of employed people during the previous month (excluding the farming industry).

◆Traders care about Non Farm Payrolls because Job Creation is among the most important leading indicators for consumer spending.

👉*NFP important facts*
◆ Release Date – the first Friday of the month at 8:30 EST.

◆ The market is usually ranging the week when NFP is released.

◆ How to interpret it – as a rule of the thumb the more jobs are created in an economy the better it is, which means the central bank will lean towards hiking the rates.


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