Switzerland Unemployment Rate

Info

History

Chart

Impact:

High

Latest Release:

Big Surprise:

-0.3%

CHF

Actual:

2.9%

Forecast: 3.2%

Previous/Revision:

2.9%

Period: Apr 2025

Next Release:

Forecast:

Period: May 2025

What Does It Measure?

The Switzerland Unemployment Rate explicitly measures the percentage of the total workforce that is unemployed and actively seeking employment within the country. It primarily focuses on assessing labor market conditions, providing insights into employment levels, and is a key indicator of economic health and consumer confidence at the national level.

Frequency

The unemployment rate in Switzerland is released monthly, with the data typically made available in the first week of the subsequent month.

Why Do Traders Care?

Traders closely monitor the unemployment rate as it reflects the economic activity level, impacting consumer spending and overall economic growth. Higher unemployment rates generally have bearish implications for the Swiss Franc (CHF) and equities due to reduced consumer purchasing power, while lower rates can boost investor confidence, proving bullish for the currency and stocks.

What Is It Derived From?

The unemployment rate is derived from survey data collected by the Swiss State Secretariat for Economic Affairs (SECO), encompassing a range of respondents including diverse sections of the labor market. This measure uses standardized methods to calculate the percentage of unemployed individuals relative to the active workforce, ensuring comparability over time.

Description

In Switzerland, this indicator is monitored closely by policymakers and market participants as a measure of domestic economic performance. The unemployment data is initially released as a preliminary estimate, subject to later revision as more comprehensive data becomes available, with the final figures providing a more accurate reflection of labor market conditions. Financial markets may react more strongly to preliminary figures due to their immediate relevance, whereas any adjustments in final numbers could influence underlying trends and projections for future economic activity.

Additional Notes

The Swiss unemployment rate serves as a lagging economic indicator, providing insights after changes in the economy have already occurred. It is often analyzed in conjunction with other labor market and inflation reports to gauge overall economic stability and potential monetary policy shifts.

Bullish or Bearish for Currency and Stocks

Higher than expected: Bearish for Currency, Bearish for Stocks. Lower than expected: Bullish for Currency, Bullish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the ‘Actual’ value differs enough from the forecast or if the ‘Previous’ value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the ‘Actual’ deviates from the forecast or there’s a notable revision to the ‘Previous’ value.

Medium Potential Impact
This event is unlikely to affect market pricing unless there’s an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
'Actual' deviated from 'Forecast' on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency.

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Apr 04, 2025	2.9%	3.2%	2.9%	-0.3%
Mar 06, 2025	2.9%	3%	3%	-0.1%
Feb 06, 2025	3%	2.9%	2.8%	0.1%
Jan 10, 2025	2.8%	2.6%	2.6%	0.2%
Dec 05, 2024	2.6%	2.5%	2.5%	0.1%
Nov 05, 2024	2.5%	2.5%	2.5%
Oct 04, 2024	2.5%	2.4%	2.4%	0.1%
Sep 05, 2024	2.4%	2.3%	2.3%	0.1%
Aug 06, 2024	2.3%	2.2%	2.3%	0.1%
Jul 04, 2024	2.3%	2.2%	2.3%	0.1%
Jun 06, 2024	2.3%	2.3%	2.3%
May 07, 2024	2.3%	2.4%	2.4%	-0.1%
Apr 08, 2024	2.4%	2.6%	2.4%	-0.2%
Mar 07, 2024	2.4%	2.6%	2.5%	-0.2%
Feb 07, 2024	2.5%	2.4%	2.3%	0.1%
Jan 09, 2024	2.3%	2.2%	2.1%	0.1%
Dec 07, 2023	2.1%	2.1%	2%
Nov 07, 2023	2%	2.1%	2%	-0.1%
Oct 06, 2023	2%	2%	2%
Sep 07, 2023	2%	1.9%	1.9%	0.1%
Aug 07, 2023	1.9%	1.9%	1.9%
Jul 07, 2023	1.9%	1.8%	1.9%	0.1%
Jun 07, 2023	1.9%	1.9%	2%
May 05, 2023	2%	2%	2%
Apr 06, 2023	2%	2%	2.1%
Mar 07, 2023	2.1%	2.2%	2.2%	-0.1%
Feb 07, 2023	2.2%	2.2%	2.1%
Jan 09, 2023	2.1%	2.1%	2%
Dec 07, 2022	2%	1.9%	1.9%	0.1%
Nov 07, 2022	1.9%	2%	1.9%	-0.1%
Oct 07, 2022	1.9%	2%	2%	-0.1%
Sep 08, 2022	2%	2%	2%
Aug 08, 2022	2%	2.1%	2%	-0.1%
Jul 07, 2022	2%	2%	2.1%
Jun 08, 2022	2.1%	2.1%	2.3%
May 06, 2022	2.3%	2.2%	2.4%	0.1%
Apr 07, 2022	2.4%	2.4%	2.5%
Mar 07, 2022	2.5%	2.5%	2.6%
Feb 07, 2022	2.6%	2.7%	2.6%	-0.1%
Jan 07, 2022	2.6%	2.5%	2.5%	0.1%
Dec 07, 2021	2.5%	2.6%	2.5%	-0.1%
Nov 08, 2021	2.5%	2.6%	2.6%	-0.1%
Oct 07, 2021	2.6%	2.7%	2.7%	-0.1%
Sep 07, 2021	2.7%	2.8%	2.8%	-0.1%
Aug 09, 2021	2.8%	2.8%	2.8%
Jul 08, 2021	2.8%	2.9%	3.1%	-0.1%
Jun 07, 2021	3.1%	3.4%	3.3%	-0.3%
May 07, 2021	3.3%	3.3%	3.4%
Apr 09, 2021	3.4%	3.6%	3.6%	-0.2%
Mar 08, 2021	3.6%	3.8%	3.7%	-0.2%
Feb 08, 2021	3.7%	3.6%	3.5%	0.1%
Jan 08, 2021	3.5%	3.4%	3.3%	0.1%
Dec 08, 2020	3.3%	3.3%	3.2%
Nov 09, 2020	3.2%	3.3%	3.2%	-0.1%
Oct 08, 2020	3.2%	3.3%	3.3%	-0.1%
Sep 09, 2020	3.3%	3.3%	3.2%
Aug 10, 2020	3.2%	3.4%	3.2%	-0.2%
Jul 08, 2020	3.2%	3.4%	3.4%	-0.2%
Jun 09, 2020	3.4%	3.5%	3.3%	-0.1%
May 07, 2020	3.3%	3.3%	2.9%
Apr 07, 2020	2.9%	2.8%	2.5%	0.1%
Mar 09, 2020	2.5%	2.6%	2.6%	-0.1%
Feb 10, 2020	2.6%	2.6%	2.5%
Jan 10, 2020	2.5%	2.4%	2.3%	0.1%
Dec 09, 2019	2.3%	2.3%	2.2%
Nov 08, 2019	2.2%	2.2%	2.1%
Oct 08, 2019	2.1%	2.2%	2.1%	-0.1%
Sep 09, 2019	2.1%	2.2%	2.1%	-0.1%
Aug 09, 2019	2.1%	2.1%	2.1%
Jul 09, 2019	2.1%	2.2%	2.3%	-0.1%
Jun 07, 2019	2.3%	2.3%	2.4%
May 08, 2019	2.4%	2.3%	2.5%	0.1%
Apr 09, 2019	2.5%	2.5%	2.7%
Mar 07, 2019	2.7%	2.7%	2.8%
Feb 08, 2019	2.8%	2.4%	2.7%	0.4%
Jan 08, 2019	2.7%	2.5%	2.5%	0.2%
Dec 10, 2018	2.5%	2.5%	2.4%
Nov 08, 2018	2.4%	2.4%	2.4%
Oct 08, 2018	2.4%	2.4%	2.4%
Sep 07, 2018	2.4%	2.4%	2.4%
Aug 09, 2018	2.4%	2.4%	2.4%
Jul 09, 2018	2.4%	2.4%	2.4%
Jun 07, 2018	2.4%	2.5%	2.7%	-0.1%
May 08, 2018	2.7%	2.9%	2.9%	-0.2%
Apr 09, 2018	2.9%	3%	3.2%	-0.1%
Mar 08, 2018	3.2%	3.4%	3.3%	-0.2%
Feb 09, 2018	3.3%	3.4%	3.3%	-0.1%
Jan 09, 2018	3.3%	3.1%	3.1%	0.2%
Dec 07, 2017	3.1%	3.1%	3%
Nov 09, 2017	3%	3%	3%
Oct 10, 2017	3%	3%	3%
Sep 08, 2017	3%	3%	3%
Aug 08, 2017	3%	3%	3%
Jul 07, 2017	3%	3%	3.1%
Jun 08, 2017	3.1%	3.1%	3.3%
May 09, 2017	3.3%	3.3%	3.4%
Apr 07, 2017	3.4%	3.4%	3.6%
Mar 09, 2017	3.6%	3.6%	3.7%
Feb 09, 2017	3.7%	3.6%	3.5%	0.1%
Jan 10, 2017	3.5%	3.3%	3.3%	0.2%
Dec 09, 2016	3.3%	3.2%	3.2%	0.1%
Nov 08, 2016	3.2%	3.2%	3.2%
Oct 10, 2016	3.2%	3.2%	3.2%
Sep 09, 2016	3.2%	3.1%	3.1%	0.1%
Aug 09, 2016	3.1%	3.1%	3.1%
Jul 08, 2016	3.1%	3.3%	3.2%	-0.2%
Jun 09, 2016	3.3%	3.5%	3.5%	-0.2%
May 10, 2016	3.5%	3.5%	3.6%
Apr 08, 2016	3.6%	3.6%	3.7%
Mar 08, 2016	3.7%	3.8%	3.8%	-0.1%
Feb 09, 2016	3.8%	3.7%	3.7%	0.1%
Jan 08, 2016	3.7%	3.7%	3.4%
Dec 09, 2015	3.4%	3.3%	3.3%	0.1%
Nov 10, 2015	3.3%	3.3%	3.2%
Oct 08, 2015	3.2%	3.3%	3.2%	-0.1%
Sep 08, 2015	3.2%	3.1%	3.1%	0.1%
Aug 07, 2015	3.1%	3%	3.1%	0.1%
Jul 07, 2015	3.1%	3.3%	3.2%	-0.2%
Jun 09, 2015	3.2%	3.3%	3.3%	-0.1%
May 08, 2015	3.3%	3.3%	3.4%