SPY & Unemployment Rate
The percentage of the labor force that is jobless and actively seeking employment.
SPY Price
Unemployment Rate
What It Measures
The unemployment rate measures the share of workers in the labor force who do not currently have a job but are actively looking for work. It is calculated by dividing the number of unemployed individuals by the total labor force (employed + unemployed) and multiplying by 100. The Bureau of Labor Statistics conducts the Current Population Survey (CPS), a monthly survey of approximately 60,000 households, to determine employment status. To be counted as unemployed, a person must: - Be 16 years or older - Not have worked during the survey reference week - Have actively looked for work in the prior 4 weeks - Be available to start a job
Why It Matters
The unemployment rate is one of the most closely watched economic indicators because it directly reflects the health of the labor market and broader economy. Key implications include: **For the Federal Reserve**: The Fed has a dual mandate of maximum employment and price stability. A rising unemployment rate may prompt rate cuts to stimulate the economy, while very low unemployment may signal inflationary pressures requiring tighter policy. **For Financial Markets**: Equity markets often react negatively to rising unemployment, while bond markets may rally on expectations of Fed easing. Currency markets also respond to employment data. **For Consumers and Businesses**: High unemployment reduces consumer spending, the primary driver of U.S. economic activity. It also affects business confidence and hiring decisions. **For Policy Makers**: Unemployment data influences fiscal policy decisions, including unemployment benefits and stimulus programs.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-01-22)
Unemployment: UNRATE - Unemployment Rate from U.S. Bureau of Labor Statistics
Units: Percent, Seasonally Adjusted, Monthly