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UE Ratio Uptick Stalls

SWITZERLAND DATA
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The Swiss unemployment rate remained unchanged again at 2.2% in February as expected (seasonally adjusted; vs 2.2% cons and prior), after having slowly drifted higher in the last months from two-decade lows.

  • The SNB said in their December rate decision press statement that they expected unemployment to continue to rise gradually; private sector consensus sees the rate flat at 2.2% in 2024 and '25, however, unchanged to last month.
  • The number of unemployed (SA) rose by 0.9k vs Jan 2024, to 102.3k, while the number of job vacancies rose 1.3k over the same period to 43.4k.
  • The ratio of the number of unemployed persons to vacancies still stands much higher than a year ago (2.36 vs 1.58 in Jan'23) but declined for the second consecutive month (2.42 Jan, 2.82 Dec), suggesting that the slow but steady loosening of the Swiss job market stalled again in February.


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The Swiss unemployment rate remained unchanged again at 2.2% in February as expected (seasonally adjusted; vs 2.2% cons and prior), after having slowly drifted higher in the last months from two-decade lows.

  • The SNB said in their December rate decision press statement that they expected unemployment to continue to rise gradually; private sector consensus sees the rate flat at 2.2% in 2024 and '25, however, unchanged to last month.
  • The number of unemployed (SA) rose by 0.9k vs Jan 2024, to 102.3k, while the number of job vacancies rose 1.3k over the same period to 43.4k.
  • The ratio of the number of unemployed persons to vacancies still stands much higher than a year ago (2.36 vs 1.58 in Jan'23) but declined for the second consecutive month (2.42 Jan, 2.82 Dec), suggesting that the slow but steady loosening of the Swiss job market stalled again in February.


Keep reading...Show less