•What it is: Two surveys measuring 1) the number of people on payrolls and 2) the unemployment rate. Also measures average hourly earnings and the length of the average work week.
• Who puts it out: Bureau of Labor Statistics (www.stats.bls.gov).
• When it’s released: 8:30 a.m. ET on the first Friday of the month after actual month (i.e., November’s employment statistics are released in early December).
• What it means: The payroll report –– probably the most widely watched report in the financial markets measures the current state of the economy by way of the employment situation. It is more of a lagging indicator. Strong employment is generally considered the bedrock of a solid economy. The more people who work and the more money they make, the more money they can spend, which will increase the demand for goods and services. However, if supply can’t keep up with demand, inflation can develop, as explained in the next section.
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