US Nonfarm Payrolls PAYEMS Economic
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What is US Nonfarm Payrolls?
Nonfarm Payrolls, also known by its ticker PAYEMS, is a crucial monthly economic indicator released by the U.S. Bureau of Labor Statistics. It measures the total number of paid U.S. workers, excluding farm laborers, private household employees, and non-profit organization employees. This metric is a primary gauge of the health and momentum of the labor market, directly reflecting job creation and overall economic activity. Economists and policymakers closely monitor Nonfarm Payrolls as it provides timely insights into consumer spending potential, inflation pressures, and the overall business cycle. A consistently strong payroll growth signals a robust economy, potentially leading to increased consumer demand and inflationary pressures. Conversely, declining or stagnant payroll numbers can indicate economic weakness or a recession, prompting policymakers to consider adjustments to monetary or fiscal policy. The data is derived from surveys of businesses and government agencies across the country. Changes in its value are closely watched by financial markets, influencing interest rate expectations and investment decisions.
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