Labor Market Observatory
US Payrolls & Labor Market
100 models covering NFP payrolls, sectoral employment, wage growth, hours & productivity, unemployment, labor force, JOLTS, demographics, and recession signals — built from publicly available FRED data.
Headline Payrolls
1. Total Nonfarm Payrolls
Thousands, SA — All employees on nonfarm payrolls (FRED: PAYEMS)
Source: FRED / BLS
@robomacroHeadline Payrolls
2. Total Private Payrolls
Monthly — Private sector payrolls excluding government (FRED: USPRIV)
Source: FRED / BLS
@robomacroHeadline Payrolls
3. Monthly Change in Nonfarm Payrolls
Thousands, SA — Net new jobs added each month (FRED: PAYEMS diff)
Source: FRED / BLS
@robomacroHeadline Payrolls
4. Total NFP vs Private Payrolls
Total nonfarm vs private-sector employment — government job contribution
Source: FRED / BLS
@robomacroHeadline Payrolls
5. Payrolls Recovery Since Feb 2020
Rebased to 100 at Feb 2020 — total vs private vs government
Source: FRED / BLS
@robomacroHeadline Payrolls
6. Goods-Producing vs Service-Providing Employment
Structural shift toward services economy (FRED: USGOOD + SRVPRD)
Source: FRED / BLS
@robomacroHeadline Payrolls
7. Establishment vs Household Survey Employment
Payroll survey (PAYEMS) vs household survey (CE16OV) — divergence monitor
Source: FRED / BLS
@robomacroHeadline Payrolls
8. Temporary Help Services vs Payrolls MoM Change
Monthly — temp help leads NFP turns by 3-6 months. NFP MoM change as bars on RHS.
Source: FRED / BLS
@robomacroHeadline Payrolls
9. Multiple Jobholders
Monthly — workers holding more than one job (FRED: LNS12026620)
Source: FRED / BLS
@robomacroSectoral Employment
10. Education & Health Services Employment
Monthly — largest sectoral driver of recent job growth (FRED: USEHS)
Source: FRED / BLS
@robomacroSource: FRED (Federal Reserve Economic Data), BLS, Conference Board, Kansas City Fed.
Payrolls Forecasting Lab
EXPERIMENT10 independent models — time-series econometrics through gradient boosting — each forecasting Friday's BLS Employment Situation.
Consensus Forecast — Median of 10 Models
NFP model disagreement (σ): ±109k · Consensus range (80%): 61k – 285k
Monthly Track Record — Last 4 BLS Releases
Genuine out-of-sample NFP predictions. Each cell shows the forecast and how far it landed from the actual print — “18k below” means the forecast was 18k under the actual. Colour shows accuracy (green = close, red = far); green-boxed cells beat the street consensus (Dow Jones / FinanceFlowAPI economist survey).
| Model | Jul 2026 NFP Forecast ↑ | Jun 2026 Actual: +57k | May 2026 Actual: +129k | Apr 2026 Actual: +148k | Mar 2026 Actual: +214k |
|---|---|---|---|---|---|
STREETStreet Consensus Dow Jones / FinanceFlowAPI economist survey | — | +110k53k above | +85k44k below | +62k86k below | +60k154k below |
MEDModel Ensemble (median) | +96k | +84k27k above | +87k42k below | +70k78k below | +49k165k below |
| +62k | +73k #316k above Beat street | +65k #564k below | +130k #118k below Beat street | +72k #4142k below Beat street | |
SARIMASARIMAX | +44k | +46k #211k below Beat street | +39k #790k below | +41k #7107k below | +44k #6170k below |
| +100k | -155k #8212k below | -46k #9175k below | +235k #587k above | -343k #10557k below | |
| +90k | +121k #664k above | +114k #215k below Beat street | +82k #466k below Beat street | -41k #9255k below | |
| +107k | +94k #437k above Beat street | +151k #422k above Beat street | +130k #218k below Beat street | +112k #1102k below Beat street | |
| +389k | +122k #765k above | +110k #319k below Beat street | +103k #345k below Beat street | +96k #2118k below Beat street | |
| +66k | +54k #13k below Beat street | +36k #893k below | +58k #690k below | +77k #3137k below Beat street | |
XGBXGBoost | +91k | +119k #562k above | +41k #688k below | -7k #10155k below | +43k #7171k below |
| +274k | -1277k #101334k below | +134k #15k above Beat street | +36k #8112k below | +54k #5160k below | |
| +246k | +414k #9357k above | +432k #10303k above | 0k #9148k below | 0k #8214k below | |
| Models beating street consensus: | 4/10 models | 4/10 models | 4/10 models | 4/10 models |
Error = actual − forecast. Green (#1–3) best; red (#8–10) worst. Green-boxed cells beat the street consensus (Dow Jones survey / FinanceFlowAPI). Click any model for the full deep-dive.
Econometric Models
Time-series methods grounded in macroeconomic theory
Machine Learning Models
Data-driven methods with non-linear feature interactions
Sorted by NFP point forecast. Dashed label shows consensus median.
Models last updated: 7/31/2026, 5:00:05 AM UTC · Source: FRED via RoboMacro

