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Economic forecasts

Nowcasting US Non-Farm Payrolls

Nowcasting the US NFP requires analyzing a blend of high-frequency indicators such as jobless claims, PMI, deposits, inflation, GDP growth and unemployment rates, which signal the health of the labor market. Industry trends, government policies and seasonal hiring patterns also matter.

99,6%
Accuracy
40+
Leading indicators
100+
Models evaluated
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Leading indicators identified with Indicio

Forecasted variable: United States, Nonfarm, Payroll, Total (1-Month Net Change), SA

IndicatorRelevance
United States, Unemployment, National, Jobless Claims, Initial, Total★★★★
United States, Unemployment, National, Jobless Claims, Initial, Total, SA, 4 Week Moving Average★★★
United States, Unemployment, National, Jobless Claims, Initial, Total, SA★★
United States, Consumer Price Index, All Urban Consumers, U.S. City Average, All Items Less Food & Energy, SA, Index★
United States, Domestic Trade, Retail Trade, Johnson Redbook Index, Total, Same Store, Change Y/Y★
United States, EIA, Oil & Gas, Crude Oil, Field Production★
United States, Balance Sheet & Flows of MFI Sector, Federal Reserve Banks, Assets, Total, All Banks, USD★
United States, New Home Sales, Total★
United States, Traffic, Rail, Intermodal Units Originated, Total★
United States, Balance Sheet & Flows of MFI Sector, Federal Reserve Banks, Collateralization of Currency, By Type★
United States, Commercial Banks, Deposits, Total, SA, USD★
Monthly Supply of New Houses in the United States, SA★
United States, Business Surveys, ISM, Report on Business, Manufacturing, Purchasing Managers', SA, Index★
NASDAQ Composite Index★

Indicio captures the group effect of the leading indicators; the relevance ranking of each indicator changes over time.

Indicio identifies the best leading indicators based upon an advanced variable selection methodology, read more here

Top indicators identified

United States, Jobless Claims, Initial, Total

Jobless claims indicate the number of people who have filed for unemployment benefits for the first time, giving a timely read on employment trends and economic health.

United States, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average, SA

CPI measures the average change in prices over time. This seasonally adjusted index is a key inflation gauge and is used to adjust income payments such as Social Security.

United States, Domestic Trade, Retail Trade, Johnson Redbook Index, Total, Same Store, Change Y/Y

The Johnson Redbook Index is a measure of retail sales growth in the United States, focusing on same-store sales. The year-over-year change shows trends in consumer spending.

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Explore our forecasts

We cover major economic indicators from GDP to PMI, with unmatched accuracy

  • US Non-Farm Payrolls
  • Economic sentiment indicator
  • US Inflation
  • GDP Germany
  • US PMI
  • EA Inflation
  • US New Home Sales

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