CHF: Swiss jobless rate drops to 2.3%
The Swiss Unemployment rate came at 2.3% in the April month versus 2.4% in the March month. The unemployment person decreased to 106957 from 108593 numbers in the previous month. The Younger age people 15-24 unemployed percent decreased to 2.0% from 2.1% in the March month.The Swiss Franc moved weaker after the Strong Job data printed. SNB have the chances to one more rate cuts in this year is possible if Job data continuous to stronger.
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The State Secretariat for Economic Affairs (SECO) reported on Tuesday that Switzerland’s unemployment rate experienced a slight decline in April, marking its lowest level in four months.
According to SECO’s data, the unadjusted unemployment rate in April stood at 2.3 percent, a marginal decrease from the 2.4 percent recorded in March. In comparison to the same period last year, when the jobless rate was at 2.0 percent, there has been a slight uptick.
The total number of registered unemployed individuals also saw a decrease, dropping to 106,957 in April from 108,593 in the previous month.
Among younger demographics, the youth unemployment rate for the 15-24 age group showed improvement, declining from 2.1 percent in March to 2.0 percent in April.
Additionally, SECO’s data revealed that when adjusted for seasonal variations, the jobless rate remained stable at 2.3 percent in April, indicating a steady employment situation despite minor fluctuations in the overall rate.
CHF: Swiss joblessness hits lowest since Dec ’23
In April, Switzerland’s unemployment rate stood at 2.3%, a slight decrease from the previous month’s 2.4%, as reported by the latest data. This decline indicates a modest improvement in the labor market compared to March. The total number of unemployed individuals decreased from 108,593 to 106,957 during this period, reflecting a positive trend in employment figures.
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Among the younger demographic, aged between 15 and 24, the unemployment rate decreased from 2.1% in March to 2.0% in April. This suggests a favorable shift for young job seekers, indicating potential opportunities in the labor market for this age group.
Following the release of the strong job data, the Swiss Franc experienced a slight weakening. This movement in the currency can be attributed to market participants reacting to the positive employment figures, which may have influenced trading sentiment towards the Swiss Franc.
Looking ahead, the Swiss National Bank (SNB) may consider further monetary policy adjustments, including the possibility of additional rate cuts, if the trend of strong job data continues. The central bank closely monitors economic indicators, particularly employment statistics, to assess the overall health of the economy and make informed decisions regarding monetary policy adjustments.
In April, Switzerland’s unemployment rate dipped to 2.3%, a decline from March’s 2.4%, according to the latest figures released by the State Secretariat for Economic Affairs on Tuesday.
This marks the lowest unemployment rate recorded since December 2023.
The total number of unemployed individuals decreased by 1,636 in April compared to the previous month, reaching a total of 106,957.
Among the youth demographic, aged between 15 and 24, the unemployment rate dropped to 2% in April from 2.1% in March. The number of unemployed youths decreased by 301 to 9,086 during this period.
Additionally, when adjusted for seasonal variations, Switzerland’s unemployment rate remained stable at 2.3% in April.
CHF: Swiss Joblessness: 2.3% in April
In April, the Swiss unemployment rate experienced a marginal decline to 2.3% compared to March’s 2.4%. The number of unemployed individuals decreased from 108,593 in the previous month to 106,957. Notably, the unemployment rate among younger individuals aged 15-24 also saw a slight decrease from 2.1% in March to 2.0% in April.
GBPCHF is moving in Descending channel and market has reached lower high area of the channel
Following the release of robust job data, the Swiss Franc exhibited signs of weakness. There is speculation that the Swiss National Bank (SNB) might consider implementing additional rate cuts later this year if the job market continues to strengthen.
In April, Switzerland’s unemployment rate was at 2.3%, as revealed in a report released on Tuesday by the State Secretariat for Economic Affairs (SECO). This rate marked a slight improvement from March’s 2.4% figure and aligned with the forecasts made by analysts.
Year over year, there was a noticeable uptick in the number of registered job seekers, amounting to a 13.8% increase, with 177,570 individuals recorded during the same period. Additionally, unemployment experienced an 18% annual rise, representing a total of 16,423 individuals impacted.
However, the report also highlighted a decrease in the number of reported job vacancies, which declined by 882 to reach a total of 41,531 in April.
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