📈NFP (Non-Farm Payroll) comes out tomorrow and you may not be sure what it is or how it affects the market... Let's break it down:
NFP comes out the 1st Friday of every month.
It's a measure of how many people in the United States have jobs that are not related to farming, working in someone's home, or working for the government, a religious organization, or a non-profit group.
It's a measure of how many people in the United States have jobs that are not related to farming, working in someone's home, or working for the government, a religious organization, or a non-profit group.
The government tracks this number every month to see how the job market is doing. This is important because it can help us understand how the economy is doing and whether or not people are able to find work.
It is a 🔑 KEY indicator of the strength and growth of the U.S. economy.
If the non-farm payroll data shows that employment is increasing and the labor market is strong, it can be seen as a positive sign for the economy and may lead to an increase value of the U.S. dollar. ⬆️
On the other hand, if the non-farm payroll data shows a decline in employment or a slowdown in the labor market, it can be seen as a negative sign for the economy and may lead to a depreciation of the U.S. dollar.
Non-farm payroll measures the number of paid workers in the economy, while unemployment measures the number of people who are looking for work but cannot find it.
As a result, the two indicators can sometimes move in opposite directions.
For example, if the number of paid workers increases while the number of unemployed workers remains unchanged, the unemployment rate could decline even as the number of NFP jobs increases
For example, if the number of paid workers increases while the number of unemployed workers remains unchanged, the unemployment rate could decline even as the number of NFP jobs increases
That's a wrap!
If you enjoyed this thread:
1. Follow me @theaiyanakeys for more of these
2. RT the tweet below to share this thread with other traders
If you enjoyed this thread:
1. Follow me @theaiyanakeys for more of these
2. RT the tweet below to share this thread with other traders
Loading suggestions...