| Actual | Previous | Consensus | |
|---|---|---|---|
| Not Adjusted | 2.0% | 2.0% | |
| Adjusted | 1.9% | 1.9% | 1.9% |
Highlights
The labour market deteriorated slightly in April as seasonally adjusted joblessness rose a further 990 or 1.1 percent on the month to 89,001. However, the increase was small enough to leave the unemployment rate unchanged at 1.9 percent, in line with the market consensus and still 0.4 percentage points short of its reading just before the arrival of Covid. Unadjusted, the number of people out of work dropped 2,221 or 2.8 percent to 90,534, also leaving the rate steady at 2.0 percent. That said, this was only 0.3 percentage points short of its level a year ago, down from the 0.4 percentage point gap seen last time and a full 1 percentage point gap in April 2022.
Moreover, seasonally adjusted vacancies fell again, this time by 2,873 or 5.4 percent on the month to 50,572. This equated with an unadjusted yearly decline of 24.9 percent after a 20.2 percent slide in March.
Today's update suggests that the labour market has run out of steam and that the demand for new workers is contracting. It also puts the Swiss ECDI at minus 21 and the ECDI-P at minus 25. Both readings show overall economic activity falling somewhat short of market expectations and warn that growth over the first half of the year is likely to be disappointingly sluggish.
Moreover, seasonally adjusted vacancies fell again, this time by 2,873 or 5.4 percent on the month to 50,572. This equated with an unadjusted yearly decline of 24.9 percent after a 20.2 percent slide in March.
Today's update suggests that the labour market has run out of steam and that the demand for new workers is contracting. It also puts the Swiss ECDI at minus 21 and the ECDI-P at minus 25. Both readings show overall economic activity falling somewhat short of market expectations and warn that growth over the first half of the year is likely to be disappointingly sluggish.
Market Consensus Before Announcement
The seasonally adjusted rate is expected to be unchanged at 1.9 percent.
Definition
The unemployment rate measures the number of unemployed as a percentage of the labour force. Both seasonally adjusted and unadjusted monthly data are provided.
Description
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.
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.
