I’m a newbie in trading forex. I’m thankful that I’ve found this site and found out a lot of people out there that are in the know and are open to questions.
I have questions regarding revision numbers on Nonfarm Employment Change number. The current numbers for Nonfarm are:
Actual : -17
Forecast: 55
Last: 18
Revision : 82
Now, I know that without the revision number, that would be a bad news. However, with the revision number @ 82, it turns out to be a good news.
What I’m confused about is how I should quantify the relationship between the revision number to the forecasted number…or the relationship between the revision number to the actual current number.
I would appreciate if someone could explain all these.
Measures the change in number of employed people during the previous month, excluding the farming industry. A rising trend has a positive effect on the nation’s currency. Job creation is an important indicator of economic health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
The numbers which you see are,
Last months figure 18K revised to 82K
Forecast is what it says, somebodies prediction of the figure,
keep this in mind for next month’s revision figure though. 65K
(NB Note even our 2 forecast figures differ)