Nonfarm payrolls
The monthly estimate of jobs in the US economy excluding agriculture — among the loudest releases in the global calendar.
How to read the number
The reaction often inverts ordinary logic: strong data means the central bank has no reason to hurry with easing, and markets fall on good news.
When the metric lies
Previous months are revised alongside the new print, and the revision sometimes exceeds the reported gain itself.
Also known as: payrolls report