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Indicator Digest

Unemployment Rate and Employment Change
Unemployment Rate measures the percentage of people that do not have jobs of all the people in the job force. Those people that are discouraged and "are not actively seeking work" are no longer counted. The participation rate tell you what percentage of the work-age population currently has a job.

Main Indicator: Unemployment Rate

Most Recent Release

June
8th, 2009
Actual Forecast Previous Revised Form
3.5% 3.6% 3.4% N/A

For May (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.4%, forecast 3.5%, pr. 3.5% (Apr), 3.4% (Mar),
3.4% (Feb), 3.3% (Jan), 3.0% (Dec), 2.7% (Nov), 2.5% (Oct), 2.4% (Sep),
2.4% (Aug), 2.3% (Jul), 2.3% (Jun)

Next Release Date: July 08th 2009, 1:45 EST

Table of Past Data

9/810/1011/712/91/82/63/94/95/86/8
Actual2.5%2.5%2.6%2.7%2.8%2.9%3.1%3.3%3.4%3.5%
Forecast2.5%2.5%2.6%2.6%2.8%2.9%3.1%3.3%3.4%3.6%
Previous2.5%2.5%2.6%2.6%2.7%2.8%3.0%3.1%3.3%3.4%
Revised FromN/AN/AN/AN/AN/AN/A2.9%N/AN/AN/A

Secondary Indicator: Employment Level

Most Recent Release

May
26th, 2009
Actual Forecast Previous Revised Form
3.96M 3.92M 3.96M N/A

For 1st Quarter
Provided by: Swiss Statistics

Employment Level y/y:  0.8%, forecast -0.1%, pr. 1.6% (4Q), 2.0% (3Q),
2.4% (2Q), 2.8% (1Q), 2.7% (4Q '07)

Table of Past Data

2/225/248/2311/222/285/298/2811/272/245/26
Actual3.70M3.71M3.74M3.87M3.88M3.899M3.924M3.96M3.96M3.96M
Forecast3.71M3.86M3.89M3.91M3.87M3.91M3.92M
Previous3.70M3.70M3.71M3.74M3.87M3.88M3.90M3.92M3.96M3.96M
Revised FromN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A

Past Releases

Unemployment Rate
May
8th, 2009
Actual Forecast Previous Revised Form
3.4% 3.4% 3.3% N/A

For April (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.5%, forecast 3.5%, pr. 3.4% (Mar), 3.4% (Feb),
3.3% (Jan), 3.0% (Dec), 2.7% (Nov), 2.5% (Oct), 2.4% (Sep), 2.4% (Aug),
2.3% (Jul), 2.3% (Jun)

Unemployment Rate
April
9th, 2009
Actual Forecast Previous Revised Form
3.3% 3.3% 3.1% N/A

For March (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.4%, forecast 3.5%, pr. 3.4% (Feb), 3.3% (Jan),
3.0% (Dec), 2.7% (Nov), 2.5% (Oct), 2.4% (Sep), 2.4% (Aug), 2.3% (Jul),
2.3% (Jun)

Unemployment Rate
March
9th, 2009
Actual Forecast Previous Revised Form
3.1% 3.1% 3.0% 2.9%

For February (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.4%, forecast 3.4%, pr. 3.3% (Jan), 3.0% (Dec),
2.7% (Nov), 2.5% (Oct), 2.4% (Sep), 2.4% (Aug), 2.3% (Jul), 2.3% (Jun)

Unemployment in Switzerland increased to 3.1% in seasonally adjusted terms and to 3.4% in non adjusted terms. That's the highest unemployment in nearly three years, as the recession in the country continues to take a toll on the labor market. The rate has increased by 1% in the last 6 months. 

Employment Level
February
24th, 2009
Actual Forecast Previous Revised Form
3.96M 3.91M 3.96M N/A

For 4th Quarter
Provided by: Swiss Statistics

Employment Level y/y: 1.6%, pr. 2.0% (3Q), 2.4% (2Q), 2.8% (1Q),
2.7% (4Q '07)
Unemployment Rate
February
6th, 2009
Actual Forecast Previous Revised Form
2.9% 2.9% 2.8% N/A

For January (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.3%, forecast 3.2%, pr. 3.0% (Dec), 2.7% (Nov),
2.5% (Oct), 2.4% (Sep), 2.4% (Aug), 2.3% (Jul), 2.3% (Jun)

Unemployment Rate
January
8th, 2009
Actual Forecast Previous Revised Form
2.8% 2.8% 2.7% N/A

For December (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 3.0%, forecast 2.9%, pr. 2.7% (Nov), 2.5% (Oct),
2.4% (Sep), 2.4% (Aug), 2.3% (Jul), 2.3% (Jun), 2.4% (May)

The unemployment rate in Switzerland increased in December to 2.8% on a seasonally adjusted basis, and to 3.0% in unadjusted terms. That puts unemployment at its highest rate in 2 years, and is the first time since 2003 that unemployment is higher at year-end than at the beginning of the year. Firms are cutting back employment as demand for Swiss goods drops amidst the deepening global recession. With inflation falling faster than expected in a report today, the Swiss National bank is expected to cut its interest rates and perhaps even turn to more unconventional methods to support the economy.  

Unemployment Rate
December
9th, 2008
Actual Forecast Previous Revised Form
2.7% 2.6% 2.6% N/A

For November (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 2.7%, forecast 2.7%, pr. 2.5% (Oct), 2.4% (Sep),
2.4% (Aug), 2.3% (Jul), 2.3% (Jun), 2.4% (May)

The Swiss unemploymnet rate rose in November, surprising forecasts on the upside. The seasonally adjusted rate climbed to 2.7% from 2.6%. The seasonally adjusted number of people without jobs increased by 2.9K to 105.7K. The Swiss economy is facing the same headwinds seen throughout Europe as the country braces for recession and the financial sector continues to suffer. Banks are expected to continue trying to save costs by laying off workers, which could push the unemployment rate to 3% in the coming months. Growth in teh overall economy was flat for the 3rd quarter, while manufacutring shrank at the fastest pace sincae at least 1995 and the index of leading indicators dropped to the lowest level in more than five years.

Teh Franc declined against the Euro and Dollar following the release, though the USD/CHF hit resistance at 1.2177 and turned back down in favor of the Franc in NY trading. 

Employment Level
November
27th, 2008
Actual Forecast Previous Revised Form
3.96M 3.87M 3.92M N/A

For 3rd Quarter
Provided by: Swiss Statistics

Employment Level y/y: 2.0% (3Q), pr. 2.4% (2Q), 2.8% (1Q),
2.7% (4Q '07)
Unemployment Rate
November
7th, 2008
Actual Forecast Previous Revised Form
2.6% 2.6% 2.6% N/A

For October (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 2.5%, forecast 2.5%, pr. 2.4% (Sep), 2.4% (Aug),
2.3% (Jul), 2.3% (Jun), 2.4% (May)

Unemployment Rate
October
10th, 2008
Actual Forecast Previous Revised Form
2.5% 2.5% 2.5% N/A

For September (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 2.4%, forecast 2.4%, pr. 2.4 (Aug), 2.3% (Jul), 2.3% (Jun),
2.4% (May)

The unemployment rate in Switzerland rose to 2.6% in seasonally adjusted terms, which surprised forecasts. With growth in its neighbors falling, cutting into Swiss exports, and the financial sector reeling from the turmoil, weaker employment will affect consumer spending. The unadjusted rate remained at 2.4%. With the economy losing steam, unemployment is expected to continue increasing, though at a gradual pace. 

Unemployment Rate
September
8th, 2008
Actual Forecast Previous Revised Form
2.5% 2.5% 2.5% N/A

For July (s.a.)
Provided by: Swiss Federal Statistics Office

Unempl. Rate n.s.a.: 2.4%, forecast 2.4%, pr. 2.3% (Jul), 2.3% (Jun), 2.4% (May)

The Swiss unemployment rate, in seasonally adjusted terms, remained at 2.5%. However, the unadjusted rate rose to 2.4% as predicted by economists. That returns the unemployment rate toa level seen in May 2008 following the temporary improvement over the summer months. The number of open vacancies stayed high at 13,763, which should help keep the Swiss National Bank keep interest rates steady for the time being.With the economy expected to cool further as the global economy falters, unemployment is likely to rise further this year.

The Swiss Franc was on the opposite side of the big moves that happened in the forex markets as a result of the takeover over the weekend of Freddie Mac and Fannie Mae. The EUR/CHF for instance gapped 150 higher between Friday's close and Sunday's open. With equities around the world celebrating the move, investors bought higher-yielders at the expense of the Swiss Franc and Japanese Yen.

Employment Level
August
28th, 2008
Actual Forecast Previous Revised Form
3.924M 3.91M 3.90M N/A

For 2nd Quarter
Provided by: Swiss Statistics

Employment Level y/y: 2.4%, pr. 2.8% (1Q), 2.7% (4Q '07)

Employment Level
May
29th, 2008
Actual Forecast Previous Revised Form
3.899M 3.89M 3.88M N/A

For 1st Quarter
Provided by: Swiss Statistics

Employment Level y/y (1Q): 2.8%, forecast 2.6%, pr. 2.7%

Employment in the Swiss economy continued showing improvement. For the 1st quarter there were 3.899 million people employed an increase of 104,000 compared to the 1st quarter of 2007. The employment level increased 2.8% year-over-year, higher than expected. The tertiary (services) sector increased by 77K jobs compared to the 1st quarter of 2007, while the secondary sector saw a rise of 27K. 

Employment Level
February
28th, 2008
Actual Forecast Previous Revised Form
3.88M 3.86M 3.87M N/A

For 4th Quarter
Provided by: Swiss Statistics

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. 

Employment Level
November
22nd, 2007
Actual Forecast Previous Revised Form
3.87M 3.74M N/A
For 3rd Quarter.
Employment Level
August
23rd, 2007
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.
Employment Level
May
24th, 2007
Actual Forecast Previous Revised Form
3.71M 3.71M 3.70M N/A
Employment Level
February
22nd, 2007
Actual Forecast Previous Revised Form
3.70M 3.70M N/A