Swiss Unemployment Rises as Companies Cut Cost

Swiss seasonally adjusted February unemployment rose to 3.1% from 3.0% in January (revised from 2.9%), above Reuters consensus for a 3.0% reading. Meanwhile, the unadjusted rate also rose to 3.4%, from 3.3% and 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.

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