is nonfarm payrolls a leading or lagging indicator 
the nonfarm payroll report is not a leading indicator but provides a snapshot of incidents that affect the overall economy the bottom linenonfarm payroll refers to the number of jobs in the private sector and government agencies it excludes farm workers private household employees proprietors non profit employees and actively serving military the nonfarm payroll numbers are reported monthly to the public through the closely followed employment situation report which details changes in unemployment by sector and demographic and new jobs added within the economy 