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  Latest
Make Money in Forex by Avoiding These Psychological Risks May 24, 2022
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Unemployment Report

Mira Team by Mira Team
January 20, 2021
in Forex Terms
Reading Time: 1 min read
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Definition – What does Unemployment Report mean?

The unemployment report is a basic economic release that states a countries unemployment rate in the last time period and its change from previous periods. Unemployment reports can be given monthly or quarterly, depending on the reporting schedule the government has committed to. Unemployment reports are carefully followed by forex traders because the unemployment rate is an indicator of a nation’s economic health.

ForexTerms explains Unemployment Report

Generally speaking, if a country has a high or rising unemployment rate, it is bad news for the currency. Therefore, the reporting of unemployment numbers becomes a tradable event for currency traders. If the numbers are negative or weak, traders may short the affected currency. If the numbers are strong or improving, traders may take up a long position. Unemployment reports are often seen as a lagging indicator because employment is the last thing to improve in an economic recovery.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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