Preview: Non-Farm Payroll Announcement
6 May 2022It’s the beginning of a new month which means that the Non-Farm Payroll figures will be released by the US Bureau of Labor Statistics. The latest US jobs data for April will be released at 1:30pm London time on Friday.
Why is the announcement important?
Non-Farm Payroll is one of the most closely watched indicators. It is considered the most wide-ranging measure of job creation in the United States. An increase in the non-farm payrolls would suggest rising employment and potential inflation pressure – which would mean a possible rate increase by the Federal Reserve. A decline would indicate a slowing economy – which would mean a possible interest rate cut. The measure accounts for around 80% of the workers who contribute to the Gross Domestic Product. It does not include those who work on farms and also excludes private households, non-profit workers, and government employees.
Expectations
In March, the total Non-Farm payroll employment increased by 431k, falling short of analyst forecast of 490k. Most significant job gains were in leisure and hospitality, professional and business services, retail trade, and manufacturing. The unemployment rate decreased by 0.2% to 3.6%.
Analysts are expecting 391k jobs added in April. The unemployment rate is expected to decrease by 0.1% to 3.6%.
Non-Farm Payroll numbers since March 2021
March: 431k
February 2022: 678k
January 2022: 467k
December 2021: 199k
November 2021: 210k
October 2021: 531k
September 2021: 194k
August 2021: 235k
July 2021: 943k
June 2021: 850k
May 2021: 559k
April 2021: 266k
March 2021: 916k
The unemployment rates since March 2021
March: 3.6%
February 2022: 3.8%
January 2022: 4%
December 2021: 3.9%
November 2021: 4.2%
October 2021: 4.6%
September 2021: 4.8%
August 2021: 5.2%
July 2021: 5.4%
June 2021: 5.9%
May 2021: 5.8%
April 2021: 6.1%
March 2021: 6%
Source: US Bureau of Labor Statistics
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Is the Japanese Yen, JPY at risk?
The Japanese Yen, Japan’s currency, has long been classed in the safe haven category along with the USD and Gold. A currency that even in times of extreme pressure in the world economies, has been able to hold its price somewhat, compared to other major currencies. This is one of the reasons why Japan’s economy, albeit heavily in debt, is r...
Previous Article
Lucid posts better than expected results in Q1
Lucid Group Inc. (LCID) reported its first quarter financial results after the market close on Thursday, delivering solid results. The US electric ...
