| Actual | Previous | |
|---|---|---|
| Adjusted | 2.9% | 2.8% |
| Not Adjusted | 2.8% | 2.8% |
Highlights
The Swiss unemployment rate ticked higher in May, rising to 2.9 percent from 2.8 the previous month, seasonally adjusted, with the number of unemployed rising 2,229 to 132,345. At the same time, the number of job seekers increased by nearly 2,000 to 210,652.
There was a pullback in the number of vacancies which fell by 1,594 to 37,701 in May, while the number of people working reduced hours fell by 4,387 to 10,007.
On an unadjusted basis, the unemployment rate held steady at 2.8 percent in May with 127,944 in the register, a gain of 22,497 over a year ago. Service sector workers made up the bulk of the jobless ranks at 91,360, a gain of 15,911 from a year ago, putting the unemployment rate for the sector at 2.9 percent in May compared to 2.4 percent a year ago.
Despite a marginally higher unemployment rate, the Swiss labor market is quite stable and unemployment remains low. Youth unemployment, which is stubbornly high in a number of European countries, is quite low at 2.4 percent.
There was a pullback in the number of vacancies which fell by 1,594 to 37,701 in May, while the number of people working reduced hours fell by 4,387 to 10,007.
On an unadjusted basis, the unemployment rate held steady at 2.8 percent in May with 127,944 in the register, a gain of 22,497 over a year ago. Service sector workers made up the bulk of the jobless ranks at 91,360, a gain of 15,911 from a year ago, putting the unemployment rate for the sector at 2.9 percent in May compared to 2.4 percent a year ago.
Despite a marginally higher unemployment rate, the Swiss labor market is quite stable and unemployment remains low. Youth unemployment, which is stubbornly high in a number of European countries, is quite low at 2.4 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.
