Employment Report in Thousands

Employment Report is published by the Bureau of Labor statistics, U.S. Department of Labor. It's released on the first friday of the month at 8:30 ET for the prior month. The Employment reports details on non farm payrolls which includes employment levels, average workweek and earnings in addition to other data. The full report can be seen here

 

70% of the U.S. economy is driven by U.S. consumers purchasing goods and services for their own consumption. A healthy consumer must be employed with rising earnings to have the financial resources to continue purchasing goods and services. Unemployed consumers can't afford to purchase goods and services which directly affects GDP. Additionally consumers who are employed reduce purchasing as anxiety about the economy rises. This becomes somewhat of a self fulfilling prophecy as consumers pull back and industries scale back and reduce employment levels to match lower demands for goods and services. This phenomenon makes the employment report critical to the health of the U.S. economy.