Swiss Unemployment Rate - Economic Data Preview

Switzerland’s Unemployment Rate is expected to tick higher for the seventh consecutive month in May, rising to 3.6% in from 3.4% in the previous month, the highest since January 2006. Growing joblessness will weigh on disposable incomes and weigh on spending, putting a lid on overall economic growth. Hiring is likely to remain tame in the months ahead with firms keeping output low as demand remains lackluster from Switzerland’s key trade partners in the European Union. Indeed, the Swiss government’s official forecasts and those derived from a survey of analysts conducted by Bloomberg agree that the unemployment rate will hit 5% next year.