The report called the monthly unemployment report by the mass media. It is released by the U.S. Department of LaborÂ’s Bureau of Labor Statistics on the first Friday of the month, unless a holiday disrupts the schedule. The report is one of the most widely watched economic indicators because of the strong influence it has on future interest rate actions by the Federal Reserve. It also is a major indicator of the economic health of the economy and an indication of likely future consumer spending levels. The statistics that are reported include average hourly earnings, which shows whether wages are rising, which could signal a potential source of inflation.