Swiss unemployment rises in January, but below expectations

February 8, 2010 Share Print 0

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

For more Swiss Economic Indicators visit FXEconostats

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.