Unemployment has had a lot of volatility due to covid and it remains to be seen, if return to normal occurs.
This would be a good indicator of economics to speculate on especially in the current situation.
Which metric will your synth track?
Unemployment rate in US and maybe other countries
How will you get data for your metric
I’m sure there is the most reliable data provider to be settled on
You could for example use oecd Unemployment - Unemployment rate - OECD Data
The metric lacks country specific standardization and there might be some manipulation in numbers.
However I’m not sure if that would be relevant in largest countries, if you don’t compare them together and the manipulation of data is standard over time.
What collateral type(s) would you use for this synthetic
Depends if you would use only US or be more global.
I’m not sure what is optimal for collaterals and I am open for discussion on this