ISM Non-Manufacturing Employment is one of the diffuse indicators, based on which the Supply Management Institute calculates the Non-Manufacturing PMI. It reflects a change in employment in service sector companies.
The index calculation is based on data collected from a monthly survey of supply managers from 17 sectors of the US service industry. Respondents estimate employment situation in their company in the past month: whether it has improved, deteriorated or has not changed. The collected data are processed and compiled to a diffuse index. The index weight in the total PMI calculation is 25%.
The ISM Non-Manufacturing Employment index is usually closely correlated with other data released by the Bureau of Labor Statistics. Growth of employment in the service sector usually reflects a generally positive situation in the labor market: companies hire more employees, so the number of jobs is growing, and the unemployment rate is declining.
However, the index generally does not influence dollar quotes directly and is normally interpreted as part of PMI.
The chart of the entire available history of the "ISM United States Non-Manufacturing Employment" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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