The jobs report usually refers to the Employment Situation report from the Bureau of Labor Statistics. It includes nonfarm payrolls, the unemployment rate, labor-force participation, and wage growth.
Labor data matters because the Fed cares about both inflation and employment. Strong jobs data can support higher-for-longer policy expectations. Weak jobs data can raise growth concerns or increase cut expectations.
The main numbers
Nonfarm payrolls show how many jobs were added or lost. Unemployment shows the share of workers looking for work but not employed. Average hourly earnings are watched as a wage-inflation signal.
What about JOLTS?
JOLTS is a separate BLS report that covers job openings, hires, quits, and separations. It can show whether the labor market is cooling or still tight.
Trading context
- Watch the release time, usually 8:30 AM ET.
- Compare payrolls, unemployment, and wages with estimates.
- Look for revisions to prior months.
- Expect cross-market moves when the print surprises.
Official sources: Employment Situation and JOLTS dates are published by the BLS at bls.gov and bls.gov/jolts.