Reading the Market

Employment reports explained

Published: 18/08/2026

The US jobs report on the first Friday of every month is one of the few scheduled events guaranteed to move FX significantly.

6 min read

The three numbers

Payrolls change — the headline
Unemployment rate — the confirmation
Average hourly earnings — the inflation link

Reading the reaction

The full reaction only settles about 15–30 minutes after the release once the market digests all three numbers together.

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