Nonfarm Productivity

The Non-farm Productivity released by the Bureau of Labor Statistics of the US Department of Labor shows the output per Hour of labor worked. Non-farm Productivity indicates the overall business health in the US, which has an influence on GDP. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).

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Most recent - Thursday 7 September 2023 12:30

3.7%

Revised

Forecast

3.8%

Actual

3.5%

Lower numbers than forecast tend to be bullish for xxx/USD pairs and bearish for USD/xxx pairs.

Next event - Thursday 2 November 2023 12:30

3.5%

Forecast

Actual

The typical/expected impact on USD pairs is medium.

There is no forecast value for Nonfarm Productivity yet - check back for updates.

Trading range

Forecast history

The most recent announced value for Nonfarm Productivity was 3.5% against a forecast of 3.8%.

Past events

Date

Forecast

Actual

Thursday 7 September 2023 12:30

3.8%

3.5%

Thursday 3 August 2023 12:30

3.7%

Thursday 1 June 2023 12:30

-2.4%

-2.1%

Thursday 4 May 2023 12:30

-1.8%

-2.7%

Thursday 2 March 2023 13:30

2.6%

1.7%

Thursday 2 February 2023 13:30

2.4%

Wednesday 7 December 2022 13:30

0.5%

0.8%

Thursday 3 November 2022 12:30

0.6%

0.3%

Thursday 1 September 2022 12:30

-4.5%

-4.1%

Tuesday 9 August 2022 12:30

-4.7%

-4.6%

Thursday 2 June 2022 12:30

-7.5%

-7.3%

Thursday 5 May 2022 12:30

-5.4%

-7.5%

Thursday 3 March 2022 13:30

6.7%

6.6%

Thursday 3 February 2022 13:30

3.2%

6.6%

Tuesday 7 December 2021 13:30

-4.9%

-5.2%

Thursday 4 November 2021 12:30

-3%

-5%

Thursday 2 September 2021 12:30

2.4%

2.1%

Tuesday 10 August 2021 12:30

3.5%

2.3%

Thursday 3 June 2021 12:30

5.5%

5.4%

Thursday 6 May 2021 12:30

4.3%

5.4%

Thursday 4 March 2021 13:30

-4.7%

-4.2%

Thursday 4 February 2021 13:30

-2.8%

-4.8%

Tuesday 8 December 2020 13:30

4.6%

Thursday 5 November 2020 13:30

5.6%

4.9%

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next Nonfarm Productivity result:

		Previous	Latest
Core Personal Consumption Expenditures - Price Index (MoM)	Bearish change	0.2%	0.1%
Core Personal Consumption Expenditures - Price Index (YoY)	Bearish change	4.3%	3.9%
Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.2%	0.4%
Personal Consumption Expenditures - Price Index (YoY)	Bullish change	3.4%	3.5%
Personal Income (MoM)	Bullish change	0.2%	0.4%
Personal Spending	Bearish change	0.9%	0.4%
Pending Home Sales (MoM)	Bearish change	0.9%	-7.1%
Core Personal Consumption Expenditures (QoQ)	(no change)	3.7%	3.7%
Gross Domestic Product Annualized	(no change)	2.1%	2.1%
Gross Domestic Product Price Index	Bearish change	2%	1.7%
Initial Jobless Claims	Bearish change	202K	204K
Personal Consumption Expenditures Prices (QoQ)	(no change)	2.5%	2.5%
Durable Goods Orders	Bullish change	-5.6%	0.2%
Durable Goods Orders ex Defense	Bullish change	-6%	-0.7%
Durable Goods Orders ex Transportation	Bullish change	0.1%	0.4%
Nondefense Capital Goods Orders ex Aircraft	Bullish change	-0.4%	0.9%
New Home Sales Change (MoM)	Bearish change	8%	-8.7%
Housing Price Index (MoM)	Bullish change	0.4%	0.8%
S&P Global Composite PMI	Bearish change	50.2	50.1
S&P Global Manufacturing PMI	Bullish change	47.9	48.9
S&P Global Services PMI	Bearish change	50.5	50.2
Existing Home Sales Change (MoM)	Bullish change	-2.2%	-0.7%
Initial Jobless Claims	Bullish change	221K	201K
Philadelphia Fed Manufacturing Survey	Bearish change	12	-13.5
Fed Interest Rate Decision	(no change)	5.5%	5.5%
Interest Rate Projections - 1st year	Bullish change	4.6%	5.1%
Interest Rate Projections - 2nd year	Bullish change	3.4%	3.9%
Interest Rate Projections - 3rd year	Bearish change	3.1%	2.9%
Interest Rate Projections - Current	(no change)	5.6%	5.6%
Interest Rate Projections - Longer	(no change)	2.5%	2.5%
Building Permits (MoM)	Bullish change	1.443M	1.543M
Housing Starts (MoM)	Bearish change	1.447M	1.283M
Michigan Consumer Sentiment Index	Bearish change	69.5	67.7
UoM 5-year Consumer Inflation Expectation	Bearish change	3%	2.7%

About Nonfarm Productivity

Country:	United States
Currency:	USD
Source:	US Bureau of Labor Statistics
Category:	Labor Market
Frequency:	Quarterly

Related events

	Australia		Unemployment Rate s.a.
	Australia		Employment Change s.a.
	Canada		Unemployment Rate
	Canada		Net Change in Employment
	New Zealand		Unemployment Rate
	New Zealand		Employment Change
	United Kingdom		Employment Change
	United Kingdom		ILO Unemployment Rate (3M)
	United Kingdom		Claimant Count Change
	United States		Nonfarm Payrolls
	United States		ADP Employment Change
	Australia		Wage Price Index (QoQ)
	Australia		Full-Time Employment
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	Germany		Unemployment Rate s.a.
	Eurozone		Labor Cost
	Eurozone		Unemployment Rate
	Italy		Unemployment
	Japan		Jobs / Applicants Ratio
	Japan		Unemployment Rate
	New Zealand		Participation Rate
	New Zealand		Labour Cost Index (QoQ)
	United Kingdom		Claimant Count Rate
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	United Kingdom		Average Earnings Excluding Bonus (3Mo/Yr)
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	United States		Unemployment Rate
	United States		Initial Jobless Claims
	United States		Labor Force Participation Rate
	United States		U6 Underemployment Rate
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	United States		Average Hourly Earnings (MoM)
	United States		Average Hourly Earnings (YoY)

Calendar - Nonfarm Productivity - United States

Nonfarm Productivity

Most recent - Thursday 7 September 2023 12:30

Next event - Thursday 2 November 2023 12:30

Trading range

Trading range after each Nonfarm Productivity event

Forecast history

Past events

Economic context

About Nonfarm Productivity

Related events