- Credit Suisse
The total number of people employed in Switzerland rose more than expected in the third quarter, a positive sign for the nation's economy. According to the Swiss Federal Statistics Office the number of people who are working soared to 4.12 million in the July-September, up from 4.07 million in the preceding quarter. The employment barometer indicators came highly above analysts' expectations of an increase to 4.09 million. In the meanwhile, the unemployment rate stood at 3% in October, up from 2.9% recorded in the previous month, while the number of job openings tumbled 44 to 15,726 in October.
"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?"
"Most analysts surveyed do not expect the economic situation to change much over the next six months," Credit Suisse said. "Based on their expectations, economic growth should therefore remain subdued."
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