Non-farm payrolls
Discover what the non-farm payrolls (NFPs) report is, when it’s next released and how the announcement influences financial markets.
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Visit help and support for more information.
Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.
Contact us 0800 409 6789
Call 0800 195 3100 or email newaccounts.uk@ig.com to talk about opening an account.
Contact us 0800 195 3100
Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.
Visit help and support for more information.
Get info fast via our instant help and support portal. Available for account queries, ProRealTime, product info and more.
Visit help and support for more information.
Call 0800 409 6789 or email helpdesk.uk@ig.com if you have any questions about trading or investing. We’re available from 9am to 5pm (UK time), Monday to Friday.
Contact us 0800 409 6789
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?
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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 2024 | 5 January 2024 | 12:30pm |
| February 2024 | 2 February 2024 | 12:30pm |
| March 2024 | 8 March 2024 | 12:30pm |
| April 2024 | 5 April 2024 | 12:30pm |
| May 2024 | 3 May 2024 | 12:30pm |
| June 2024 | 7 June 2024 | 12:30pm |
| July 2024 | 5 July 2024 | 12:30pm |
| August 2024 | 2 August 2024 | 12:30pm |
| September 2024 | 6 September 2024 | 12:30pm |
| October 2024 | 4 October 2024 | 12:30pm |
| November 2024 | 1 November 2024 | 12:30pm |
| December 2024 | 6 December 2024 | 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
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Fast execution on a huge range of markets
Enjoy flexible access to 17,000+ global markets, with reliable execution
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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
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