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Non-Farm Employment Change

Private sector employment report

Determines the level of change in the level of people employed over the past month, excluding the agriculture sector

Job creation is an important indicator of economic recovery, which is largely related to human resource conditions and a large part of GDP

The US economy created 187,000 jobs in July of 2023, below market expectations of 200,000 and after a downward revision of 185,000 in June. The reading is also lower than the average monthly gain of 312k over the previous 12 months but still about double the 70k-100k required per month to keep up with growth in the working-age population. Job gains occurred in healthcare (63k), specifically ambulatory healthcare services (35k) and hospitals (16k); social assistance (24 thousand); Financial activities (19 thousand), which are real estate and rentals (12 thousand); And wholesale trade (18 thousand). Employment in the leisure and hospitality sector increased by 17 thousand, but job gains in this sector showed little change in employment in recent months, after an average monthly gain of 67 thousand in the first quarter. However, employment in the leisure and hospitality sector remains below its February 2020 level by 352 thousand. The payroll figures for May were also revised downward. With these revisions, employment in May and June combined was 49,000 lower than previously reported.

Expectations for today's statement and how it will affect the currency:

The estimate for today's data is 169 thousand jobs

If the data is released above expectations, the effect will be positive on the currency and vice versa

The news will be issued at 12:30 (GMT+00:00) UTC

Non-Farm Employment Change



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