| Actual | Previous | |
| Adjusted | 3.0% | 3.0% |
| Not Adjusted | 3.1% | 2.9% |
Highlights
The unemployment rate edged higher in December to a seasonally-adjusted 3.1 percent, up 0.2 percentage points from November, while the unadjusted rate rose to 3.0 percent from 2.9 percent the month before.
There were fewer people seeking jobs in December, with the number falling to a seasonally-adjusted 221,947 from 222,428. But that was not enough of a decline to increase the percentage of those in the labor force seeking work. The rate held steady at 4.7 percent.
More jobs were on offer in December as the number of job openings increased to 44,012 from 37,524 when adjusted for seasonal effects.
Two of Switzerland's bellwether sectors saw unemployment increase in December. The chemical and oil refining industry saw the jobless rate increase to 3.5 percent from 3.3 percent the previous month. Swiss watchmakers are also feeling pressure, with the unemployment rate rising to 6.2 percent from 6.1 percent in November.
While the unemployment rate of around three percent would be the envy of most economies, it is still something of concern. Particularly in light of some of the major economic sectors. Should this persist, the Swiss National Bank should have some scope to adjust monetary policy.
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.