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What Is the Jobs Report?
The jobs report, officially the Employment Situation, is the U.S. government's monthly snapshot of the labor market. It is one of the most market-moving economic releases.
What's in the jobs report
The Bureau of Labor Statistics (BLS) publishes the report at 8:30 AM ET, usually on the first Friday of the month. It combines two surveys.
The establishment survey of employers produces nonfarm payrolls: how many jobs the economy added or lost. It also reports average hourly earnings, a key measure of wage growth. The household survey produces the unemployment rate: the share of people in the labor force who want a job but don't have one.
Why markets care
The Federal Reserve has a dual mandate: maximum employment and stable prices. A strong jobs report can mean the economy is running hot, which may keep interest rates higher; a weak one can raise hopes of rate cuts but also fears of a slowdown.
Payroll numbers are revised in the following months as more data comes in, so traders watch revisions as well as the headline number.
Unemployment Rate over time
Unemployment Rate
Share of the labor force without a job
Common questions
When is the next jobs report?
The next jobs report is scheduled for Friday, November 6, 2026, at 8:30 AM Eastern Time.
What are nonfarm payrolls?
Nonfarm payrolls are the number of jobs added or lost in the U.S. economy in a month, excluding farm workers, private household employees and a few other groups.
How is the unemployment rate calculated?
It is the number of unemployed people actively looking for work divided by the labor force (everyone working or looking for work), based on a monthly survey of households.
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Source: U.S. Bureau of Labor Statistics via FRED, Federal Reserve Bank of St. Louis. For information only, not investment advice.