Don’t Forget The Farmers- by NEIL SISKIND

Each month the United States Department of Labor releases its “nonfarm” payroll report. But what about farm payrolls? Nonfarm payroll employment is a compiled name for goods, construction, and manufacturing companies in the US. It does not include farm workers, private household employees, or non-profit organization employees. This year, the average farm’s income is projected to be 35 percent below its 2013 level. According to the USDA, inflation-adjusted net farm income is forecast to decline almost 15 percent in 2018, to $65.7 billion, after increasing in 2017. There are many vital statistics and data points related to farming to be, and that are, analyzed in evaluating the state of farming and ranching in the United States. Farmers and ranchers are people, and are more than just statistics and names of monthly reports. This note does not do the topic justice and article merely as a means of reminding market watchers and investors that there are actually farmers behind the name “nonfarm payrolls”, whose situations must be considered as part of any analysis of the overall U.S. economy.

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