Labour market still improving in Switzerland


Another drop in unemployment in Switzerland in April 2011. The Swiss labour market is buoyant.

Labour market still improving in Switzerland
In April 2011, the labour market data for Switzerland was once again very positive. The rate of unemployed in the active population was down to 3.1% (sa), from 3.3%. It is the lowest level recorded since February 2009.

Unemployed was down by 6.3k, the largest decline in ever registered. The downward trend has accelerated in the recent months. On the other side of the Swiss job market, job vacancies are stable on a monthly basis, on historical highs. Full-time positions have increased by 26% YoY.

Economic Impacts
The high level of job vacancies and data coming from survey indicate that the current trend will remain unchanged in the close future. The SNB is maintaining since 2009 a very accommodative monetary policy. A strong labour market, a economic outlook and a rising inflation add some pressures on the Bank.

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