The labour market lost further ground at the end of the second quarter. Seasonally adjusted joblessness rose 2,750 or 2.5 percent on the month to 112,032. However, this was not enough to lift the unemployment rate which was unchanged at 2.4 percent, matching both the market consensus and its highest mark since December 2021. Unadjusted, the number of people out of work dipped 947 or 0.9 percent to 104,518, also leaving the rate steady at May's 2.3 percent and 0.4 percentage points above its mark a year ago.

Meantime, seasonally adjusted vacancies fell again, dropping 441 or 1.2 percent on the month to 37,684. This equated with an unadjusted yearly drop of 23.5 percent, up from 22.6 percent last time.

The June update extends the trend increase in joblessness that began at the start of last year. As such, the data bolster the chances of inflation remaining below 2 percent and so support last month's decision by the SNB to cut its policy rate again. Today's data also put the Swiss RPI at minus 33 and the RPI-P at minus 23, both measures showing overall economic activity still running well behind market forecasts.

The seasonally adjusted rate is expected to hold steady at 2.4 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.