The Non-Farm Payrolls (NFP) data released by the US Bureau of Labor Statistics measures changes in the number of workers outside the agricultural sector over a period of one month. This data is an initial indicator of consumer spending and overall economic activity, and is an important consideration for the Fed in determining interest rates.
February 1, 2019: NFP AS, Manufacturing
Last December 2018, NFP increased by 312,000 jobs, far higher than the estimated increase of 179,000 jobs, and the highest since February 2018. The average number of jobs added in the last 3 months was 254,000 jobs per month, higher than the previous month of 189,667 jobs per month.
In December 2018, the most employment increments were medical care personnel (+50,000 jobs), professional labor and business services (+43,000 jobs), manufacturing (+32,000 jobs), retail trade (+24,000 jobs), construction (+38,000 jobs), and food services (+41,000 jobs).
For January 2019, it is estimated that NFP will add 165,000 jobs, while according to ADP Non Farm Employment Change data dated January 30, 2019, NFP will increase 213,000 jobs (release). A higher than expected release will likely cause the USD to strengthen.
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