Malcolm Rivera
A job is a piece of work done routinely or for an agreed price, or a duty or responsibility. Job positions refer to specific roles within a company's organizational structure, and they are independent of specific people. Job titles, on the other hand, are names of positions that reflect their function and seniority. Jobs reports are released monthly by the Bureau of Labor Statistics, and they are highly anticipated by investors as they provide insights into the labor market and can influence monetary policies. The reports include data on the number of jobs added or lost and the unemployment rate, which can impact decisions made by the Federal Reserve regarding interest rates and monetary policies.
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What You'll Learn
Unemployment rate
The monthly jobs report is a highly anticipated release that provides a detailed account of monthly employment in the US. It is published by the Bureau of Labor Statistics (BLS) at 8:30 am ET on the first Friday of each month, and it includes data from the previous month. The jobs report is significant because it offers a granular and comprehensive view of employment in the country, allowing investors to gain insights into consumer and business demand for products.
The jobs report consists of two main components: the household survey and the establishment survey. The household survey estimates the unemployment rate by assessing the labour force status, including unemployment, by demographic characteristics. It covers a wide range of workers, including the self-employed, farmworkers, household employees, and unpaid family workers. The survey defines unemployed individuals as those who did not have a job during the reference week, are available to work, and have actively looked for a job in the prior four weeks. It also includes those on temporary layoff who expect to return to work.
The establishment survey, formally known as the Current Employment Statistics Survey, focuses on nonfarm businesses and government agencies. It gathers data from approximately 121,000 to 145,000 businesses and about one-third of all payroll workers. This survey provides information on payrolls, hours worked, and earnings. It also offers estimates for nonfarm payrolls, average weekly hours worked, and average hourly and weekly earnings nationwide, by state, metropolitan area, and industry.
The unemployment rate is a critical indicator in the jobs report. A low unemployment rate indicates that companies are hiring and can be a sign of economic productivity and optimism about future growth. It also affects the availability of goods and services produced and purchased by American consumers. Additionally, the jobs report presents alternative measures of underemployment, including discouraged workers who have stopped looking for jobs and those seeking full-time employment but working part-time.
The monthly jobs report is a valuable tool for policymakers, researchers, and investors, providing insights into employment trends and the overall health of the US economy. It helps them understand employment dynamics across different demographic groups, industries, wages, and hours worked. The report's data on unemployment rates and other indicators are seasonally adjusted to account for factors like weather, holidays, and school schedules, making it easier to identify underlying trends.
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Payroll jobs
The U.S. Bureau of Labor Statistics (BLS) releases the Employment Situation Summary, commonly referred to as the jobs report, on the first Friday of each month at 8:30 a.m. Eastern Time. The report is based on two surveys: the household survey and the establishment survey.
The household survey, conducted by the U.S. Census Bureau, collects data on labour force status, including unemployment, by demographic characteristics. It covers various categories of workers not included in the establishment survey, such as the self-employed, farmworkers, household employees, and unpaid family workers. The establishment survey, formally known as the Current Employment Statistics Survey, collects data from approximately 121,000 businesses and government agencies, representing about 631,000 worksites and one-third of all payroll workers. This survey provides data on payrolls, hours worked, and earnings.
The jobs report offers valuable insights into the U.S. economy, including the unemployment rate, changes in nonfarm payrolls, average earnings, and hours worked. Payroll refers to the compensation a business provides to its employees, typically in the form of wages, salaries, bonuses, stock options, and commissions. It is a complex process that must comply with federal and state regulations, requiring meticulous record-keeping. Small businesses often use cloud-based software to manage payroll, while larger firms may opt for custom enterprise resource planning (ERP) systems or outsource their payroll functions.
The establishment survey provides estimates for nonfarm payrolls, average weekly hours worked, and average hourly and weekly earnings nationwide, by state, metropolitan area, and industry. It also includes data on production and non-supervisory employees. The report's numbers are seasonally adjusted to account for fluctuations like seasonal hiring surges and slowdowns in certain sectors. These adjustments help filter out temporary variations and provide a clearer picture of underlying economic trends.
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Employment status
The jobs report consists of two main surveys: the establishment survey and the household survey. The establishment survey, or the Current Employment Statistics Survey, gathers data from approximately 121,000 to 145,000 nonfarm businesses and government agencies, covering about one-third of all payroll workers. It provides estimates for nonfarm payrolls, average weekly hours worked, and average hourly and weekly earnings nationwide, by state, metropolitan area, and industry. The survey also includes information on the types of jobs within industries that saw increases and decreases, as well as changes in workers' average hourly earnings.
The household survey, on the other hand, estimates the unemployment rate and covers a smaller sampling size of around 60,000 households. It includes several categories of workers not counted by the establishment survey, such as the self-employed, farmworkers, household employees, and unpaid family workers. The household survey provides a broader perspective on the labour force, including those who are unemployed and looking for jobs, as well as those who are employed. It also captures alternative measures of underemployment, such as discouraged workers who have stopped looking for jobs and those seeking full-time employment but working part-time.
The jobs report also includes information on labour force participation, which represents the share of the population that is either working or actively seeking employment, excluding children under the age of 16 and those in institutions or the military. This data is reported across different age groups and demographic characteristics. Additionally, the report tracks changes in average hourly and weekly earnings for workers on private sector, nonfarm payrolls, including those in production and non-supervisory roles.
Overall, the monthly jobs report provides a comprehensive overview of employment status in the U.S., offering insights into unemployment rates, job gains and losses, labour force participation, earnings, and other characteristics of American workers. It serves as a valuable resource for investors, policymakers, researchers, and others to understand the health of the economy and make informed decisions.
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Earnings
The establishment survey, or the Current Employment Statistics Survey, collects data from approximately 121,000 non-farm businesses and government agencies, representing about one-third of all payroll workers. It provides estimates for non-farm payrolls, average weekly hours worked, and average hourly and weekly earnings nationwide, by state and metropolitan area, and by industry. The survey also tallies the hours worked and earnings of production and non-supervisory employees.
The household survey, on the other hand, collects information from around 60,000 households, focusing on individuals aged 16 and older. It provides a broader view of the labour force, including those who are self-employed, farm workers, household employees, and unpaid family workers. The survey is used to estimate the unemployment rate and labour force participation rate, which includes people who are working or actively looking for work.
The earnings data from these surveys is used to track changes in workers' compensation over time. For example, the June 2025 report showed that average hourly earnings for private-sector production and non-supervisory employees increased by 9 cents, or 0.3%, to $31.24. Over the previous 12 months, average hourly earnings had increased by 3.7%.
The jobs report is highly anticipated by investors, policymakers, and economists as it provides valuable insights into the state of the economy. It can indicate whether companies are hiring or laying off workers, and it can also impact financial markets and monetary policies. Therefore, understanding the earnings data within the report is crucial for making informed investment decisions and assessing the overall health of the economy.
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Hours worked
The establishment survey, formally known as the Current Employment Statistics Survey, plays a crucial role in understanding hours worked. It collects data from approximately 121,000 nonfarm businesses and government agencies, representing about one-third of all payroll workers. This survey focuses on the pay period that includes the 12th day of the month, ensuring a consistent reference point for data collection.
The monthly jobs report provides a detailed breakdown of hours worked across different sectors and industries. For example, the report may include information on the average workweek for all employees on private nonfarm payrolls, as well as specific sectors like manufacturing. Additionally, the report may provide insights into the average number of hours worked by production and nonsupervisory employees, which can vary across industries.
Changes in hours worked can indicate shifts in labour demand and overall economic trends. For instance, an increase in average weekly hours worked may suggest a higher demand for labour, while a decrease could indicate a potential slowdown in economic activity. Therefore, investors and policymakers closely monitor hours worked data to make informed decisions and assess the health of the labour market.
It is worth noting that the hours worked metric in the jobs report is subject to revisions. As more survey responses are received and seasonal factors are updated, the statistics for hours worked may be adjusted in subsequent reports. These revisions ensure that the data accurately reflects the evolving nature of the labour market and economic conditions.
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Frequently asked questions
The monthly jobs report is a comprehensive account of monthly employment in the U.S. It is released by the Bureau of Labor Statistics (BLS) on the first Friday of each month at 8:30 am ET.
The monthly jobs report consists of two surveys: the establishment survey and the household survey. The establishment survey focuses on the business sector, gathering data from approximately 121,000 to 145,000 nonfarm businesses and government agencies. The household survey collects information from around 60,000 households, focusing on individuals aged 16 and older.
The establishment survey provides data on payrolls, average weekly hours worked, average hourly and weekly earnings, and the number of jobs gained or lost. It covers both the public and private sectors, excluding farmworkers and self-employed individuals.
The household survey estimates the unemployment rate, including discouraged workers who have stopped looking for jobs. It also provides information on labour force participation, which includes people working or looking for work as a percentage of the population aged 16 and older.
The monthly jobs report is used by policymakers, researchers, and investors to understand the state of the U.S. economy. It provides insights into employment trends, labour demand, consumer demand, and business confidence. The report can impact financial markets and is used by the Federal Reserve to set monetary policies.
