Employment data is perhaps the most crucial indicator of economic health. Never has an unemployment rate figure that is low, and steadily rising, NOT indicated a recession.
There are many definitions of unemployment, workforce utilization, and worker ‘output’. Taken together these indicators can and do portend equity prices, and overall health of many securities.
See Knowledge for cause and effect.
Unemployment Rates (U3, U6)
For perspective, see the long-run unemployment (U3) rates here.