CH: Unemployment

Tue Jan 09 00:45:00 CST 2018

Consensus Actual Previous Revised
SECO (NSA) 3.2% 3.3% 3.1%
SNB (SA) 3.0% 3.0% 3.0% 3.1%

The number of people out of work increased 9,337 or 6.8 percent on the month to 146,654 in December. This boosted the jobless rate by 0.2 percentage points to 3.3 percent, a 0.2 percentage point from a year ago. However, the monthly rise was wholly attributable to the usual seasonal factors and adjusted for these, unemployment actually fell 1,282 or 0.9 percent to 136,607. The adjusted jobless rate was 3.0 percent, down a tick from an upwardly revised November level.

There was further good news on vacancies which saw a 249 seasonally adjusted monthly increase to 13,010. This put them an unadjusted 11.0 percent above their level in December 2016.

The labour market data continue to show a slow, but increasingly well-defined trend improvement in keeping with a gradually accelerating economic upswing. This should be good news for first quarter consumer spending.

The unemployment rate measures the number of unemployed as a percentage of the labour force. Both seasonally adjusted and unadjusted monthly data are provided.

Like the employment data, unemployment data help to gauge the current state as well as the future direction of the economy. Employment data are categorized by sectors. This sector data can go a long way in helping investors determine in which economic sectors they intend to invest.

By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.