US labor market: NFP, unemployment & wage growth

US labor market: NFP, unemployment & wage growth

US monthly jobs report is one of the most important US economic releases. It will be out at 15:30 MT time on September 1. The report includes nonfarm payrolls (NFP), unemployment rate and average hourly earnings index. NFP shows the number of jobs created in the United States during the previous month. The publication of these data usually has a strong impact on the USD.

Last time American labor market figures managed to beat the market’s expectations. NFP showed a solid increase of 209K jobs, unemployment rate declined to 4.3% and wage growth picked up. If the new release comes out positive, the greenback will be able to gain. Weak NFP and especially lower hourly earnings index will hurt the US currency.

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