US Non-Farm Payrolls Report Moves to July 3 Due to Holiday

The US Department of Labor will release the June Non-Farm Payrolls (NFP) report on Thursday, July 3, 2025, a day earlier than the usual schedule. This adjustment is due to the Independence Day holiday, which falls on Friday, July 4, 2025. Typically, the NFP report is published on the first Friday of the month, but this year's holiday schedule necessitates an earlier release.

The NFP report is a critical economic indicator that provides insights into the US labor market by measuring the number of jobs added or lost, excluding the farming industry. This report is closely monitored by economists, policymakers, and investors as it offers a comprehensive view of the labor market's health. The report includes key data points such as the unemployment rate, average hourly earnings, and the average workweek hours.

According to the analyst's forecast, the US economy is expected to add 129,000 nonfarm payrolls in June, a slight decrease from the 139,000 jobs added in May. The unemployment rate is projected to remain steady at 4.2%, while the rate of average hourly earnings is anticipated to cool to +0.3% month-over-month from +0.4% in May. The average workweek hours are expected to remain unchanged at 34.3 hours.

The release of the NFP report is significant as it can influence market sentiment and policy decisions. A strong jobs report could signal a robust economy, while a weak report could raise concerns about economic growth and potentially impact the Federal Reserve's monetary policy decisions. The Federal Reserve has been closely monitoring the labor market as part of its dual mandate to promote maximum employment and stable prices. The Fed Chair has acknowledged a "very, very slow continued cooling" in the labor market, but has not indicated any immediate concerns. Policymakers have also noted that they are attentive to both their inflation and labor market mandates, with a focus on inflation dynamics and the potential risks that tariff pressures could stoke prices higher.

On the day of the report's release, US stocks and CME stock index futures trading will close early. The US stock market will be closed on July 4th for the Independence Day holiday, and trading of CME's precious metals, WTI crude oil, forex, and stock index futures contracts will close early on July 5th at 01:00 Beijing time. Trading of ICE's Brent crude oil futures contracts will close early on July 5th at 01:30 Beijing time.