XT Research Institute: The unemployment rate data released tonight will indirectly affect the price of Bitcoin

Odaily News At 20:30 on June 7, the U.S. Department of Labor will release the unemployment rate data for May; the U.S. Bureau of Labor Statistics will release the seasonally adjusted non-farm payrolls (10,000 people) data for May. The U.S. unemployment rate is one of the important indicators in the U.S. employment report, which refers to the ratio of the unemployed population to the labor force in a certain period of time. Specifically, it is the ratio of the number of laborers who are willing to work but have not found a job in a certain period of time to the total employed population. The unemployment rate is designed to measure idle labor capacity and is the main indicator reflecting the unemployment situation in a country or region. As an important signal of economic health, the unemployment rate indirectly affects the price of Bitcoin by affecting investor sentiment and monetary policy. High unemployment rates usually push up Bitcoin prices, while low unemployment rates may put pressure on Bitcoin prices.