Swiss unemployment rises in January, but below expectations

The Swiss unemployment rate rose to a non-seasonally adjusted 4.5 percent in January from 4.4 percent in the previous month, the State Secretariat for Economic Affairs said.

In seasonally adjusted terms, the unemployment rate dropped to 4.1 percent from the previous month’s 4.2 percent. Economists had forecast the non-adjusted jobless rate would rise to 4.6 percent. ECONCH Switzerland emerged from a deep recession last summer and recent economic data point to recovery, but economists expect joblessness to peak later this year.

Reuters

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