In This Chapter
The two main employment surveys
How the two main employment surveys differ
The most timely measure of wage inflation
How employment data affect other economic reports
The employment report is the most closely followed economic report on earth. No, that isn’t a typo! It is the most timely and comprehensive economic report for the world’s largest economy.
Because of its broad and timely scope, this report sets the tone for what investors and traders expect for economic releases for the rest of the month. To be sure, there are a number of other employment indicators that provide different perspectives on the labor market. But the employment report is the Big One and so we talk about that one first.