Definition of Non-farm Payroll
What is the definition of "non-farm payroll"? What does the term "non-farm payroll" mean?
First off, "non-farm payroll" data is compiled and published by the BLS (Bureau of Labor Statistics).
Non-farm payroll represents the total number of US workers that receive some sort of a wage, minus these groups:
-private household employees
-non-profit organization employees
Non-farm payroll includes approximately 80-85% of all workers in the United States.
Non-farm payroll data is a prominent feature of the monthly employment situation summar from the BLS. Non-farm payroll data is one of many statistics used to gauge the overall health of the economy.
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