The labour market made further ground at the start of 2024. Seasonally adjusted employment rose 33,000 or 0.6 percent on the quarter following a marginally steeper revised 24,000 increase in the previous period. Unadjusted, the annual gain was a solid 95,000 or 1.8 percent after a 91,000 rise last time.

The latest quarterly advance was again largely attributable to services where the workforce climbed 0.7 percent, up from a 0.5 percent increase in the fourth quarter. The goods producing sector gained 0.2 percent, matching the previous period's rise. Looking ahead, the overall demand for labour may be starting to stabilise. Having fallen 1.1 percent in the fourth quarter, vacancies edged 0.1 percent higher, their first rise since the first quarter of last year.

In sum, the labour market remains tight, a point that will not be wasted on the SNB when it announces its next interest rate decision on 20 June.

The quarterly employment barometer is a survey of 18,000 businesses and service sectors encompassing approximately 65,000 establishments. It collects data on job vacancies, recruitment difficulties and the development of employment forecasts. The main focus is on the quarterly and annual changes in overall employment.

The employment data give a comprehensive report on how many people have jobs. These numbers are the best way 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.