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Non Farm Payrolls (NFP) represents the total number of paid U.S. workers in any business, excluding farm workers, government employees, and private household employees. It is widely considered the most important monthly economic indicator, as it provides a timely snapshot of the health of the US labor market. Significant growth in payrolls indicates economic expansion and increased consumer spending power. Conversely, weak NFP data can signal an impending recession and influence the Federal Reserve's decisions on interest rates.
Based on the Establishment Survey conducted by the Bureau of Labor Statistics (BLS). It collects data from approximately 122,000 businesses and government agencies, representing approximately 666,000 individual worksites.
Non-farm payrolls recorded a sharp and unexpected decline of -92k in February, significantly missing the forecast of 59k. This contraction represents a major negative shock, breaking a two-month trend of employment growth.
Turkey's Non-Farm Payrolls contracted by 92k in February, significantly missing the growth forecast of 59k. This sudden decline reflects contractionary pressures in the Turkish labor market and a deterioration in economic activity during that period.
No sustained trend detected for Non Farm Payrolls (Feb). Forecast accuracy is 67% over 13 readings. The release is expected near the consensus forecast of 70.