Non-farm payrolls
Discover what the non-farm payrolls (NFPs) report is, when it’s next released and how the announcement influences financial markets.
Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.
Tips for trading NFPs
Tips for trading NFPs
Keep an eye on factors other than the NFP figure such as wage growth
Expect key levels to get tested more easily following the news releases and when liquidity is lighter
Know what to expect by looking at market volatility of previous NFP figure releases
Stick to your trading plan – don’t let the intraday volatility distract you from this
What is the non-farm payrolls report?
The non-farms payroll report (NFP) is the monthly release of data on the 80% of the US workforce employed in manufacturing, construction and goods.
As the name suggests, it does not include those who work on farms, and also excludes private households, non-profit workers and government employees.
Why trade non-farm payrolls with IG?
Trade on the market reaction
Leverage your exposure with CFD trading or spread betting
Extended hours on US stocks
Trade out of hours on over 70 key US stocks and indices
Effective risk management
Protect your profits and limit your losses with our range of tools
Non-farm payrolls calendar
The data release is usually on the first Friday of every month at 8:30am New York time, which is 13:30pm UK time.
| Reference month | Date | Time (GMT) |
| January 2025 | 10 January 2025 | 12:30pm |
| February 2025 | 7 February 2025 | 12:30pm |
| March 2025 | 7 March 2025 | 12:30pm |
| April 2025 | 4 April 2025 | 12:30pm |
| May 2025 | 2 May 2025 | 12:30pm |
| June 2025 | 6 June 2025 | 12:30pm |
| July 2025 | 3 July 2025 | 12:30pm |
| August 2025 | 1 August 2025 | 12:30pm |
| September 2025 | 5 September 2025 | 12:30pm |
| October 2025 | 3 October 2025 | 12:30pm |
| November 2025 | 7 November 2025 | 12:30pm |
| December 2025 | 5 December 2025 | 12:30pm |
Watch live coverage with IG
Every NFP Friday, follow the release – and the market fallout – live with our in-depth coverage of the announcements. This can be a great way to gain insight into the impact of previous NFP figures, predictions for the future and how non-farms are traded by others.
To follow the announcement as it happens, sign up for an IG account.
Why is the non-farm payroll report important?
The non-farm payroll release gives an invaluable insight into the state of the world’s biggest economy, showing how US business is performing and offering an indication of where the Federal Reserve might take interest rates in the near future.
The overall number of jobs added or subtracted is an indicator of the health of the economy as a whole, and are part of the Federal Reserve’s mandate on employment – so the FOMC will pay attention to NFP figures when deciding whether to raise or lower rates.
For example, a high number of jobs can be taken as a sign of inflationary pressures, which may lead to an interest rate hike. A fall in the number, meanwhile, may indicate a declining economy, increasing the chances of a rate cut.
Interest rates have a major part to play in the movements of forex, stocks and commodities, so the non-farms report can reverberate across global markets in a big way. Find out more about how to trade NFP.
Non-farm payrolls components
While you’ll usually see the headline NFP number used in reports, there are plenty of other components that can be just as important to follow. Here’s a quick rundown of what else to watch out for:
- The unemployment rate as a percentage of the overall workforce. This figure is closely watched, as the unemployment rate can influence the Federal Reserve’s assessment of the US economy
- Which sectors the increases and decreases in jobs came from. This gives traders information on which sectors of the economy are up or down, which can be useful in planning future trades
- Average hourly earnings. If there are the same number of jobs, but the average earnings have decreased, the effect is the same as if people had been subtracted from the workforce
- Revisions to previous non-farm payroll releases. This is an important component that can move markets suddenly as traders re-price their growth expectations based on the revisions to previous announcements
How to trade non-farm payrolls
Trading non-farms payrolls can present the opportunity for increased profits on a variety of markets, but the announcement can cause volatility, increasing risk.
Prior to the release, economists will attempt to predict what the headline NFP number will be, usually arriving at a consensus estimate. The market fallout from the release can then be magnified depending on the closeness of the estimate to the actual figure.
Some of the markets that are likely to be most affected are:
- Forex: A healthy US economy will attract investment from around the word, driving up the price of the US dollar. This affects major currency pairs, such as GBP/USD, EUR/USD and AUD/USD
- Indices: Strong employment is a sign that businesses are doing well – but a strong dollar can negatively affected US indices such as Dow Jones, the S&P 500 and the NASDAQ
- Commodities: If it looks like the US economy is performing poorly, traders may turn to safe havens, such as gold and silver
Open an account now
*Demo accounts are only available for spread betting and CFD trading.
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 15,000+ global markets, with reliable execution
Deal seamlessly, wherever you are
Trade on the move with our natively designed, award-winning trading app
Feel secure with a trusted provider
With 50 years of experience, we’re proud to offer a truly market-leading service
*Demo accounts are only available for spread betting and CFD trading.
Open an account now
Open an account now
Fast execution on a huge range of markets
Enjoy flexible access to 15,000+ global markets, with reliable execution
Deal seamlessly, wherever you are
Trade on the move with our natively designed, award-winning trading app
Feel secure with a trusted provider
With 50 years of experience, we’re proud to offer a truly market-leading service
You might be interested in…
Learn how to trade the reaction to NFP announcements across 90 currency pairs
Buy or sell Wall Street and the US 500, 24 hours a day
Go long or short on 11,000+ global stocks, including Apple and Facebook
Connect with us
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
Professional clients trading spread bets and CFDs can lose more than they deposit.
Options and futures are complex instruments which come with a high risk of losing money rapidly due to leverage. They’re not suitable for most investors. Before you invest, you should consider whether you understand how options and futures work, the risks of trading these instruments and whether you can afford to lose more than your original investment.
Trading stocks and shares ‘on margin’ within a US options and futures account – meaning that you only finance part of the cost of acquiring a position in a security – carries additional risks over buying securities on a fully funded basis and may result in losses exceeding your original investment. Trading on margin will also result in additional costs to you as the investor and any securities purchased using margin may be held as collateral by the lender, restricting both your rights as shareholder, and your ability to use the securities until the margin trade is closed. You should familiarise yourself with these risks before trading on margin.
The value of shares, ETFs and other ETPs bought through a share dealing account, a US options and futures account, a stocks and shares ISA or a SIPP can fall as well as rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Some ETPs carry additional risks depending on how they’re structured, investors should ensure they familiarise themselves with the differences before investing.
Share dealing and IG Smart Portfolio accounts provided by IG Trading and Investments Ltd, CFD accounts and US options and futures accounts are provided by IG Markets Ltd, spread betting provided by IG Index Ltd.
IG is a trading name of IG Trading and Investments Ltd (a company registered in England and Wales under number 11628764), IG Markets Ltd (a company registered in England and Wales under number 04008957) and IG Index Ltd (a company registered in England and Wales under number 01190902). Registered address at Cannon Bridge House, 25 Dowgate Hill, London EC4R 2YA. IG Markets Ltd (Register number 195355), IG Trading and Investments Ltd (Register Number 944492) and IG Index Ltd (Register number 114059) are authorised and regulated by the Financial Conduct Authority.
The information on this site isn’t directed at residents of the United States, Belgium or any particular country outside the UK and isn’t intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.