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Main Indicator: Unemployment Rate
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.5% | 2.5% | N/A | ||
|
Seasonally adjusted rate for April
Unemployment Rate n.s.a.: 2.6%, forecast 2.5%, pr. 2.6% The unemployment rate in Switzerland increased for the first time in more than four years. The credit crunch caused several key companies to lay off workers including UBS (plans to cut 5,500 jobs) and chemical makers Clariant AG and Ciba Specialty Chemicals AG. UBS has had to write down $38 billion in losses associated with financial turmoil, while high oil costs have cuased the chemical makers to cut payrolls. With global growth slowing, and the financial sector recuperating, job losses may increase in the Swiss economy. The Swiss economy grew at a fast clip in the 4th quarter, as export demand, especially from Asia and Europe helped offset a decline in demand from the US market. Like we have seen in Germany, the pressures coming to bear in other industrial economies is starting to creep into the economy and growth figures should be expected to decline. |
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Table of Past Data
| 8/8 | 9/6 | 10/8 | 11/8 | 12/6 | 1/7 | 2/7 | 3/6 | 4/7 | 5/8 | ||
| Actual | 2.7% | 2.7% | 2.6% | 2.6% | 2.6% | 2.6% | 2.6% | 2.5% | 2.5% | 2.6% | |
| Forecast | 2.7% | 2.7% | 2.7% | 2.6% | 2.6% | 2.6% | 2.6% | 2.5% | 2.5% | 2.5% | |
| Previous | 2.7% | 2.7% | 2.7% | 2.7% | 2.6% | 2.6% | 2.6% | 2.6% | 2.5% | 2.5% | |
| Revised From | N/A | N/A | N/A | 2.6% | N/A | N/A | N/A | N/A | N/A | N/A | |
Secondary Indicator: Employment
Most Recent Release
|
Actual | Forecast | Previous | Revised Form | |
| 3.88M | 3.86M | 3.87M | N/A | ||
|
For 4th Quarter
Employment saw a 2.7% increase for the 4th quarter compared to last year. As the data from Swiss Statistics shows all sectors experienced positive growth. |
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Table of Past Data
| 11/23 | 2/22 | 5/24 | 8/23 | 11/22 | 2/28 | ||||||
| Actual | 3.69M | 3.70M | 3.71M | 3.74M | 3.87M | 3.88M | |||||
| Forecast | 3.70M | 3.71M | 3.86M | ||||||||
| Previous | 3.65M | 3.70M | 3.70M | 3.71M | 3.74M | 3.87M | |||||
| Revised From | N/A | N/A | N/A | N/A | N/A | N/A | |||||
Past Releases
Unemployment Rate
|
Actual | Forecast | Previous | Revised Form | |
| 2.5% | 2.5% | 2.5% | N/A | ||
|
Seasonally adjusted rate for February.
Unemployment Rate n.s.a.: 2.6%, forecast 2.6%, pr. 2.7%
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|
Actual | Forecast | Previous | Revised Form | |
| 2.5% | 2.5% | 2.6% | N/A | ||
|
Seasonally adjusted rate for February
Provided by: State Secretariat fir Economic Affairs (SECO) |
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|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.6% | 2.6% | N/A | ||
| Seasonally adjusted rate for January | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.6% | 2.6% | N/A | ||
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Seasonally adjusted rate for December. Unadjusted Rate: 2.8%, forecast 2.8%, pr. 2.7% (Sept) The unadjusted unemployment rate increased to 2.8%, in line with expectations. The seasonally adjusted rate remained the same as November, at 2.6%. |
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|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.6% | 2.6% | N/A | ||
| For November. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 3.87M | 3.74M | N/A | |||
| For 3rd Quarter. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.6% | 2.7% | 2.6% | ||
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Seasonally adjusted Rate for October. Unadjusted Rate: 2.6%, consensus 2.5%, pr. 2.5% (Sept) |
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|
Actual | Forecast | Previous | Revised Form | |
| 2.6% | 2.7% | 2.7% | N/A | ||
| For September. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 2.7% | 2.7% | 2.7% | N/A | ||
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Though the seasonally adjusted unemployment remained unchanged at 2.7%, August’s unadjusted unemployment rate rose unexpectedly to 2.6% from July’s 2.5%. This increase to the jobless rate can mean that the strong labor market in Switzerland may be weakening. The seasonally adjusted rate had come down from 3.2% last November, reaching 2.5% in July, and may now be creeping back above 2.7%. The Swiss National Bank will monitor the situation as they are preparing to decide interest rates on the 13th of September. In their last meeting in June, the Bank hiked rates to 2.5%, the fourth straight quarterly increase. The SNB decides on interest rates quarterly.
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|
Actual | Forecast | Previous | Revised Form | |
| 3.74M | 3.71M | N/A | |||
| Employment in the Swiss economy increased to 3.737 million. This is the highest level on record going back to 1995. High employment suggests that consumer spending in the Swiss economy should remain strong even if exports or business investment should falter. | |||||
|
Actual | Forecast | Previous | Revised Form | |
| 2.7% | 2.7% | 2.7% | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 3.71M | 3.71M | 3.70M | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 3.70M | 3.70M | N/A |
|
Actual | Forecast | Previous | Revised Form | |
| 3.69M | 3.70M | 3.65M | N/A |