Swiss employment continued to expand in the third quarter, exceeding the analysts' forecasts. The number of employed surged to 4.12 million in this quarter, higher than the expected rate of 4.09 million, advancing from 4.07 million in the second quarter. The nation's seasonally adjusted rate of unemployment reached the highest reading since March 2011of 3% in October, inching higher from September's 2.9%. Job openings dropped by 44 and touched 15,726 in October, whereas the number of job searchers increased by 7,665 to 178,532 in October comparing with the prior month.
"The Swiss economy will have to get used to a weaker economic momentum," said VP Bank economist Bernd Hartmann. "There is a lack of fresh impulses in the shape of investments despite record low interest rates. The question is: Where is growth in the near future supposed to come from?"