| Actual | Previous | |
| Adjusted | 3.0% | 2.9% |
| Not Adjusted | 3.2% | 3.2% |
Highlights
The seasonally adjusted unemployment rate ticked higher in February, rising to 3.0 percent from 2.9 percent in January, while the unadjusted rate held steady at 3.2 percent.
In a sign that the labor market is tightening, the number of job openings fell to 45,686 in February from 50,214 the previous month. At the same time, those seeking jobs increased to 223,562 from 222,267 in January on an adjusted basis.
Among key sectors, there has been a recovery in the watchmaking sector which was heavily affected by the US tariffs. In February, the jobless rate in the sector fell to 6.0 percent from 6.2 percent the previous month. In construction, the jobless rate fell by 0.3 percentage points to 4.5 percent in February.
While the unemployment rate remains low in comparison to other major economies, there are signs that tightness is emerging.
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.