The labour market weakened further at quarter-end. Seasonally adjusted joblessness was up 3,079 or 3.0 percent on the month at 105,644. Moreover, the increase was steep enough to lift the unemployment rate by a tick to 2.3 percent, matching its highest reading since January 2022 and 0.1 percentage point above the market consensus. Unadjusted, the number of people out of work fell some 3,286 or 2.9 percent to 108,593, leaving the rate steady at 2.4 percent. However, this was 0.4 percentage points above its level a year ago, widening the gap by a tick versus that seen in both January and February.

Vacancies continued to decline with a 625 or 1.5 percent slide on the month to 40,747. This equated with an unadjusted yearly fall of 25.3 percent, up from February's 21.2 percent.

Today's update is again consistent with a loosening trend in the Swiss labour market and will leave speculators contemplating another cut in the SNB policy rate in June. The March data also put the Swiss RPI at minus 23 and the RPI-P at minus 8. Economic activity in general continues to undershoot forecasters' predictions.

The seasonally adjusted rate is seen unchanged at 2.2 percent.

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.