Swiss Unemployment Rate ticks higher to 3.4% in May vs. 3.7% expected

In May, Switzerland’s Unemployment Rate rose to 3.4% compared to +3.3% booked in April.

Markets predicted the jobless rate to tick higher to 3.7% in the reported month.

About Swiss Unemployment Rate

The Unemployment Rate released by the State Secretariat for Economic Affairs (SECO) is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the Swiss lobar market. As a result, a rise leads to weaken the Swiss economy. A decrease of the figure is seen as positive (or bullish) for the CHF, while an increase is seen as negative (or bearish).

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