CH: Unemployment

Mon Apr 09 00:45:00 CDT 2018

Consensus Actual Previous
SECO (NSA) 3.0% 2.9% 3.2%
SNB (SA) 2.9% 2.9% 2.9%

The Swiss labour market made further progress in March. Unadjusted, the number of people out of work fell 13,517 or some 9.4 percent to 130,413. This was enough to reduce the jobless rate from 3.0 percent in February to 2.9 percent, equalling its lowest mark for the month since 2008. March is seasonally a very strong period for employment and adjusted for such factors, unemployment declined a much smaller 1,871 or 1.4 percent to 130,140. This held the adjusted rate steady at 2.9 percent.

However, the news on vacancies was more mixed with a seasonally adjusted monthly dip of 0.2 percent leaving an unchanged annual increase of 9.0 percent.

Nonetheless, overall the March jobless figures are quite promising and in line with a moderate first quarter for economic growth.

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.