Monday, October 21, 2013

Non-Farm Payroll

Non-Farm Payroll

As a definition can be simplified as a statistic researched, recorded and reported by the U.S. Bureau of Labor Statistics intended to represent the total number of paid U.S. workers of any business, excluding the following employees:

  •  general government employees
  •  private household employees
  •  employees of nonprofit organizations that provide assistance to    individuals 
  •  farm employee

This monthly report also includes estimates on the average work week and the average weekly earnings of all non-farm employees. 
The total nonfarm payroll accounts for approximately 80% of the workers who produce the entire gross domestic product of the United States. The nonfarm payroll statistic is reported monthly, on the first Friday of the month, and is used to assist government policy makers and economists determine the current state of the economy and predict future levels of economic activity.

Due to U.S. governmental sixteen days shutdown non-farm payroll report result delayed for eighteen days to be announced tomorrow October 22, 2013 at GMT 12:30 P.M. with bad expectations to rise around 10K over the last figure of 169K which means more unemployed people in the non-farm sectors putting more pressure over U.S. government shoulders to find a solution.

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