NFP
Nonfarm Payrolls (NFP)
The monthly US jobs report from the BLS — payrolls, unemployment and wages in one print — is the most-watched data release in global markets.
| Published by | Bureau of Labor Statistics (BLS) |
|---|---|
| Frequency | Monthly, usually the first Friday |
| Release time | 8:30 AM ET |
What it measures
The Employment Situation report combines a survey of employers (payroll jobs added, wages, hours) and a survey of households (unemployment rate, participation). It is the fastest broad read on the US labor market.
Why traders watch it
- Labor strength anchors the rate path: strong jobs = hawkish, weak jobs = dovish — often the largest single-day rate moves of the month.
- Average hourly earnings feed the wage-inflation loop the Fed watches.
- Prior-month revisions can flip the message of the headline beat or miss.
How to read it
- Trade the trio together: payrolls vs consensus, unemployment rate direction, and wage growth.
- Check the two prior months’ revisions first — a beat with big downward revisions is not a beat.
- Household vs establishment survey divergence flags turning points.
FAQ
When is the next jobs report?
The Employment Situation is normally released the first Friday of each month at 8:30 AM ET. Each release date is on the calendar page, and FirstPrint pushes the actuals within seconds.
Why did markets fall on a strong jobs number?
Rate path dominates: a hot labor market means higher-for-longer policy, lifting yields and pressuring risk assets. Good news for the economy can be bad news for stocks through the rates channel.
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The official source of each release is authoritative. Not investment advice.