| Actual | Previous | |
|---|---|---|
| Adjusted | 3.0% | 3.0% |
| Not Adjusted | 2.9% | 2.9% |
Highlights
The unemployment rate held steady in November compared to the previous month, coming in at a seasonally-adjusted 3.0 percent, while the unadjusted rate was 2.9 percent. Within the industrial sector, the jobless rate rose to 3.4 percent from 3.2 percent in November and held steady in the services sector at 3.0 percent.
When adjusted for seasonal factors, the number of jobseekers fell 0.4 percent in November month-on-month to 222,949, while the number of job openings increased 2.5 percent to 36,880.
The Swiss watch industry which was heavily impacted by the 39 percent US tariffs saw the unemployment rate rise to 6.1 percent in November from 6.0 in October and 5.4 percent in November of last year. The current rate is the second-highest among the major sectors, with the highest rate in the hospitality industry at 6.6 percent, an increase of 0.5 percentage points from the previous month. To be sure, November is a time when many hotels are closed ahead of the winter holidays.
Despite the unadjusted jobless rate matching its highest rate for the year, it is still quite low compared to other European countries. It is no big surprise the jobless rate in manufacturing ticked higher since the sector has been lagging compared to the services industry. Firms should also be able to breathe a little easier with the US and Switzerland reaching an agreement in principle on tariffs.
When adjusted for seasonal factors, the number of jobseekers fell 0.4 percent in November month-on-month to 222,949, while the number of job openings increased 2.5 percent to 36,880.
The Swiss watch industry which was heavily impacted by the 39 percent US tariffs saw the unemployment rate rise to 6.1 percent in November from 6.0 in October and 5.4 percent in November of last year. The current rate is the second-highest among the major sectors, with the highest rate in the hospitality industry at 6.6 percent, an increase of 0.5 percentage points from the previous month. To be sure, November is a time when many hotels are closed ahead of the winter holidays.
Despite the unadjusted jobless rate matching its highest rate for the year, it is still quite low compared to other European countries. It is no big surprise the jobless rate in manufacturing ticked higher since the sector has been lagging compared to the services industry. Firms should also be able to breathe a little easier with the US and Switzerland reaching an agreement in principle on tariffs.
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.
