Non-farm payroll (NFP) definition

Non-Farm Payroll (NFP) is a key US economic report that shows how many new jobs were added (or lost) in the country – excluding farm workers, government employees, and a few other sectors.

Home Investing glossary Non-farm payroll (NFP)

What is the non-farm payroll?

Non-farm payroll (NFP) is a key US economic report that shows how many new jobs were added (or lost) in the country – excluding farm workers, government employees, and a few other sectors. It’s released on the first Friday of each month and is closely watched by investors, economists, and policymakers.

Why does it matter?

  • A strong NFP report (lots of new jobs) suggests the economy is growing, which can push stock markets up and lead to higher interest rates.
  • A weak NFP report (fewer jobs or job losses) can signal economic trouble, potentially leading to lower interest rates to boost growth.

Since job growth affects consumer spending, inflation, and interest rates, NFP can have a big impact on markets.

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Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.

A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.

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