The labour market continued to weaken in June as seasonally adjusted joblessness rose 1,445 or 1.6 percent on the month to 93,010. However, the increase was not large enough to lift the unemployment rate which remained at 2.0 percent, in line with the market consensus. Unadjusted, the number of people out of work dropped 2,977 or 3.4 percent to 85,099, also leaving the rate steady at 1.9 percent. That said, this was only 0.1 percentage point short of its level a year ago, down from the 0.2 percentage point gap seen in April and a 0.5 percentage point gap at the start of the year.

Moreover, seasonally adjusted vacancies fell again, this time by 622 or 1.3 percent on the month to 48,085. This equated with an unadjusted yearly decline of 27.9 percent, up from 27.1 percent in May.

Today's update provides further evidence that the labour market, while still historically tight, has turned the corner and is losing momentum. It also puts the Swiss ECDI at minus 23 and the ECDI-P at minus 22, both readings continuing to show overall economic activity falling short of market expectations.

No change in the adjusted rate is expected in June.

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.