According to Odaily, the US Labor Department is set to release the unemployment data for May. The US Bureau of Labor Statistics will also announce the adjusted non-farm employment population data for the same month. The unemployment rate is a significant indicator in the US employment report, representing the ratio of unemployed individuals to the working population over a certain period. Specifically, it is the proportion of the labor force that is willing to work but has not yet found a job in the total employed population.
The unemployment rate aims to measure idle labor capacity and is a primary indicator reflecting a country or region's unemployment situation. As a crucial signal of economic health, it indirectly affects Bitcoin prices by influencing investor sentiment and monetary policy. A high unemployment rate typically pushes up Bitcoin prices, while a low unemployment rate may put pressure on Bitcoin prices.