Employees - Nonfarm Payroll (NFP)
Returns the total nonfarm payroll employment, the most closely watched labor market indicator. This is the headline number from the monthly jobs report.
Data Source
Bureau of Labor Statistics (BLS) - Current Employment Statistics (Establishment Survey).
Usage Notes
- No parameters required
- Returns employment in thousands
- Data updated monthly (first Friday)
- Seasonally adjusted
NFP Importance
The nonfarm payroll number is one of the most market-moving economic indicators:
- Fed watches it for monetary policy decisions
- Markets react strongly on release day
- Used to gauge overall economic health
Components
| Component | Relationship |
|---|---|
| Total Nonfarm | = Private + Government |
| Private | = Goods-producing + Service-providing |
Syntax
=EmployeesNonfarm()Returns
number
Total nonfarm payroll employment (thousands)
Examples
Total nonfarm payroll (thousands)
When to Use
- Tracking overall employment trends
- Economic forecasting
- Fed policy analysis
- Building economic dashboards
When NOT to Use
| Scenario | Use Instead |
|---|---|
| Need private sector only | EmployeesPrivate() |
| Need government only | EmployeesGovernment() |
| Need goods-producing | EmployeesGoodsProducing() |
| Need service-providing | EmployeesServiceProviding() |
Common Issues & FAQ
When is NFP released?
The Employment Situation report (including NFP) is released on the first Friday of each month at 8:30 AM ET.
Why is this called 'nonfarm'?
It excludes agricultural workers due to seasonal volatility in farming employment.
Related Formulas
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