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

Examples

=EmployeesNonfarm()
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

Q: When is NFP released? A: The Employment Situation report (including NFP) is released on the first Friday of each month at 8:30 AM ET.

Q: Why is this called 'nonfarm'? A: It excludes agricultural workers due to seasonal volatility in farming employment.

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MarketXLS Excel Add-in Tutorial - How to Use Employees - Nonfarm Payroll and Other Financial Formulas
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