Yes, even this indicator influences a country’s currency rate. The U.S. unemployment rate in particular is a huge forex gossip topic.
How many people do you know who are unemployed even though they are ready and willing to work? I know plenty! This is an indication that theU.S.unemployment rate is high. Beyond the general sense of how unemployment is doing, a more reliable figure is announced on the first Friday of every month, and is closely followed by forex traders. A decline in the unemployment rate means that the economy is doing well and more jobs have been created, which result in a stronger dollar in theUnited States.
Low Unemployment Rate = High Currency Rate
High Unemployment Rate = Low Currency Rate