What is U.S. Non-farm Payroll?
NFP or commonly called Nonfarm Payroll is a report that measures the development of U.S. workers in all zones except:
•Agricultural sector
•Entrepreneurship
•Domestic Workers
•Military
•Intelligence Agencies
When and By Whom Is Non-Farm Payroll Information Released?
This information was announced by the U.S. Bureau of Labor Statistics to coincide with the unemployment rate report. This information is released each month on The Friday of the initial week which includes the average amount of working time as well as the average income per week for part-time workers.
Universally, the report shows the information on the number of workers outside the aforementioned zone compared to the previous month. Often used to measure the health of the economy.
Although this NFP information is announced early Friday of each month at 08 hours. At 30 p.m. local time, the publication of this information is sometimes postponed to the 2nd Friday when the first day of the month is Friday.
The TOTAL US- NFP covers approximately 80% of the number of workers who have a part in shaping the GDP of the United States.
With that information, policymakers always think about labor information in order to make meaningful decisions.
If it continues to be a lot of open jobs at that time until it continues to be good nfp figures and business conditions will also be increased by increasing investment and recruitment of labor.
Not only looking at job growth, this information also shows the United States unemployment statistics, covering the universal unemployment rate, the long-term unemployment rate, and the youth unemployment rate.
The level of labor participation is also statistical information that is used to measure the true extent of unemployment in the country.
What Is Reported in Non-Farm Payroll?
The statistical information that accompanies the US-NFP report may be a guide to identify which zones are recruiting workers with very large or very few workers, as well as which zones face workforce reductions.
The work zones included in the report notes include:
•Wholesale and Retail Sales
•Reliable Services and Business
•Healthcare
•Financial activities
•Mining
•Transportation
•Manufacturing
•Construction
•Information
•Recreation
Not only that, the US-NFP report also provides bonus information such as time as well as average hourly wages and wage growth. A report published each month could very well include improvements to the report.
What Are the Consequences of NFP?
○ General Influence of NFP Information
- the moment of launching this NFP to stimulate the movement of market prices are strong in trading currency ( forex) special on major pairs.
○ Effect of NFP Information on USD
- USD is one of the currencies that greatly influences the world's financial instruments, so the influence of NFP on the USD also wants to influence other economic movements.
○ Effect of NFP Information on Gold movement
- there are 2 scenarios for measuring the influence of fundamental economic information on the price of financial heritage, which is sourced in the short and long term. The consequences are great in the short term, not necessarily great in the long run.