United States USD

United States ISM Services Employment

Impact:
Low
Source: Institute for Supply Management

Latest Release:

Date:
Surprise:
0.7
Actual:
50.7
Forecast: 50
Previous/Revision:
49
Period: May

Next Release:

Date:
Period: Jun
What Does It Measure?
The ISM Services Employment Index measures the level of employment in the services sector of the U.S. economy, focusing specifically on the hiring trends among service-related businesses. This indicator assesses key areas including employment growth, labor demand, and overall health within the services sector, with values above 50 indicating expansion in employment and values below 50 signaling contraction.
Frequency
The ISM Services Employment Index is released monthly, typically on the sixth business day of each month and can include preliminary estimates or final figures.
Why Do Traders Care?
Traders closely monitor the ISM Services Employment Index as it provides insight into labor market conditions and economic activity within the services sector, which is a significant part of the U.S. economy. Higher-than-expected readings can bolster investor confidence, positively impacting equities and the U.S. dollar, while weaker reports may lead to bearish sentiment in markets.
What Is It Derived From?
The index is derived from a survey conducted among purchasing and supply executives in the services sector, where they provide insights on employment levels, hiring intentions, and labor shortages. The results are reported as a diffusion index, combining responses to indicate trends: a reading above 50 suggests an increase in employment, while below 50 indicates a decrease.
Description
The ISM Services Employment Index is a key indicator reflecting labor market dynamics in the services sector, considering factors like new hiring, layoffs, and overall workforce changes. The preliminary figures released are based on initial survey responses, subject to revision, while the final data reflects more comprehensive analyses and greater accuracy.
Additional Notes
This index serves as a coincident indicator, providing insights into current economic conditions relative to employment in the services sector. It relates broadly to other economic measures, supporting analyses of overall economic growth and the robustness of service industries in the U.S. compared to global trends.
Bullish or Bearish for Currency and Stocks
Higher than expected: Bullish for USD, Bullish for Stocks. Lower than expected: Bearish for USD, Bearish for Stocks. A dovish tone: Signaling lower interest rates or economic support is usually good for the USD but bad for Stocks due to cheaper borrowing costs.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number Better than forecast for the currency (or previous revise better)
Red Number Worse than forecast for the currency (or previous revise better)
Hawkish Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish Favors lower rates to boost growth, weakening the currency but lifting stocks.
Date Time Actual Forecast Previous Surprise
Jun 04, 2025
50.7
 50
49
 0.7
May 05, 2025
49
 47
46.2
 2
Apr 03, 2025
46.2
 53
53.9
 -6.8
Mar 05, 2025
53.9
 52.1
52.3
 1.8
Feb 05, 2025
52.3
 51.3
51.3
 1
Jan 07, 2025
51.4
 51.4
51.5
Dec 04, 2024
51.5
 53
53
 -1.5
Nov 05, 2024
53
 48
48.1
 5
Oct 03, 2024
48.1
 50.1
50.2
 -2
Sep 05, 2024
50.2
 50.5
51.1
 -0.3
Aug 05, 2024
51.1
 46.5
46.1
 4.6
Jul 03, 2024
46.1
 49
47.1
 -2.9
Jun 05, 2024
47.1
 47.2
45.9
 -0.1
May 03, 2024
45.9
 49
48.5
 -3.1
Apr 03, 2024
48.5
 48
48
 0.5
Mar 05, 2024
48
 50.4
50.5
 -2.4
Feb 05, 2024
50.5
 46
43.8
 4.5
Jan 05, 2024
43.3
 50.7
50.7
 -7.4
Dec 05, 2023
50.7
 50.1
50.2
 0.6
Nov 03, 2023
50.2
 53.5
53.4
-3.3
Oct 04, 2023
53.4
 54.5
54.7
 -1.1
Sep 06, 2023
54.7
 50.5
50.7
4.2
Aug 03, 2023
50.7
 51.1
53.1
 -0.4
Jul 06, 2023
53.1
 49.9
49.2
3.2
Jun 05, 2023
49.2
 50.8
50.8
-1.6
May 03, 2023
50.8
 51
51.3
 -0.2