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What Is Non Farm Payrolls? Is NFP Good For Crypto?

Herman Hayes

Dec 9, 2024

Non farm payrolls are economic indicators. This article will be all about NFP and its considerations. Let's talk about it!

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What Is Non Farm Payrolls?

Non farm payrolls, often referred to as NFP, is a key economic indicator released by the United States Bureau of Labor Statistics (BLS) on a monthly basis. It provides valuable information about the number of jobs added or lost in the nonfarm sector of the US economy, excluding agricultural and government employment.

The NFP report is closely watched by market participants, including economists, investors, and traders, as it offers insights into the health and momentum of the labor market. It is considered a significant indicator of overall economic strength and can have a notable impact on fin ancial markets, particularly in the United States.

Here are a few key points about the Nonfarm Payrolls report:

Data included: The report includes data on the number of jobs added or lost in various sectors such as manufacturing, construction, healthcare, retail, finance, and more. It also provides information on the average workweek hours, average hourly earnings, and the unemployment rate.

Release schedule: The NFP report is typically released on the first Friday of each month, covering the employment data for the previous month. For example, the report released in February provides data for January.

Market impact: The NFP report has the potential to significantly impact financial markets, particularly currencies, bonds, and stock markets. Stronger-than-expected job growth in the report can be seen as positive for the economy and may lead to increased demand for the currency and higher stock prices. Conversely, weaker-than-expected job growth can have the opposite effect.