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MajorAgendaFri, Nov 6 ET 8:30 AM pre-market1 min read
Nonfarm payrolls measure the net change in jobs on US nonfarm employers' payrolls, not how many people were newly hired. The previous increase was 29,000 jobs; no estimate is supplied. Recent reports show low initial jobless claims and improving staffing business at Robert Half. This broader report tests whether limited layoffs are also accompanied by stronger net job creation.[1]
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Look for stronger net job creation, revisions to earlier figures and whether wages and unemployment tell a consistent story. Firmer employment supports retailers and restaurants through household income, but may reduce the urgency of rate cuts and limit support for homebuilders and other rate-sensitive stocks. Weaker employment threatens spending while strengthening the case for lower rates. Payroll jobs are not a count of employed people, so this reading alone cannot describe every household's position.[1]