Employment Situation · Nonfarm Payrolls / Jobs Report
Definition
The monthly Employment Situation is the U.S. jobs report. It pairs the establishment survey — nonfarm payroll growth and average hourly earnings — with the household survey, which yields the unemployment rate and labor-force participation.
Why investors care
It is the single most important U.S. data release: it drives the entire rates curve, the dollar and equities, and anchors the market’s read on the Fed’s next move.
What to watch
Watch payrolls, the unemployment rate AND average hourly earnings together — and the two-month net revision, which often matters more than the headline.