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After, poor US Q2 GDP data, investors would keep an eye on nonfarm payroll numbers.
Source: https://www.ibtimes.co.in/nifty-closes-lower-loss-2-month-august-details-862114
April’s nonfarm payrolls report is due later on Friday, the next major data point that will offer further clues on the Fed’s fight against inflation.
At the same time, the number of nonfarm wage and salary jobs increased by 1,100 in January to an all-time high of 648,000.
Source: https://www.centralmaine.com/2023/03/13/maine-unemployment-fell-below-3-in-january/
Baton Rouge is at 420,300 nonfarm jobs, up 4.4% year over year.
Employers in Colorado added 6,200 nonfarm payroll jobs from January to February for a total of 2,887,700 jobs, according to the survey of business establishments.
Source: https://bizwest.com/2023/03/24/boulder-noco-metros-lead-state-with-lowest-jobless-rates/
However, in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 22,400, or -3.
Source: https://mauinow.com/2023/12/21/mauis-non-seasonally-adjusted-unemployment-rate-in-november-was-6-5/
In the US, nonfarm payrolls came in at 223,000, down from 256,000 but above the estimate of 203,000.
Source: https://www.marketpulse.com/20230109/canadian-dollar-flies-on-superb-jobs-report/
Investors will look ahead to Friday’s nonfarm payrolls data, unemployment rate, and hourly wages — all of which could have a bearing on the Federal Reserve’s move on interest rates.
Quicker rate cuts will probably come if the labor market began "flashing an orange light that we're about to head into a recession" with back-to-back monthly losses in jobs in nonfarm payroll employment reports.
S. nonfarm payrolls employment surged by 517,000.
The department continues to make the original nonfarm payroll employment series available; these data are produced by the BLS.
Source: https://www.mycentraloregon.com/2023/08/17/oregons-jobless-rate-ties-record-low/
The pair had shunned volatility over most of the week, but now faced nonfarm payroll (NFP) numbers as a final potential catalyst for risk…
The survey of establishments showed nonfarm payrolls rose by 339,000 jobs last month.
Unless Friday’s nonfarm payrolls are woefully below the forecast, it’s looking likely that the Fed will be forced to hike again in June.