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31FX Blog

What to expect before the NFP Report

31FX – The latest NFP report is due for release this Friday, February 7 at 13:30 GMT and could provide commodity traders with a fundamental catalyst.

Construction worker on duty

WHAT IS NFP?

The Non-Farm Payrolls report, or NFP for short, is actually part of the Employment Situation report which also includes the Unemployment Rate, Average Hourly Earnings, and Average Workweek Hours. The NFP seems to get the most attention because it measures the actual number of paid employees (full and part-time) in the business and government establishments.

Overview:

Friday’s US economic docket highlights the release of the closely watched US monthly employment details, popularly known as nonfarm payrolls (NFP).

The report is scheduled to be released at 13:30GMT and is expected to show that the US economy added 156K new jobs in January, up from the previous month’s stellar reading of 145K.

NFP Last Month (January 10, 2020)

Nonfarm Payrolls in the US increased by 145,000 in December following November’s reading of 256,000 (revised from 266,000), the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in weaker than the market expectation of 164,000.