Switzerland Unemployment Rises to Two-Year High

Swiss seasonally adjusted March unemployment rose to 3.3% from 3.1% in February in line with the Reuters consensus and the highest since August 2006. Meanwhile, the unadjusted rate remained stable at 3.4%, in line with expectations. Data show that although the jobless rate remain low by international standards, slowing economic growth is having an impact and unemployment is likely to continue to rise throughout the year, impacting consumer spending.