Swiss Unemployment Increased in October as Economy Weakened
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Swiss unemployment increased for the first time in six months in October, suggesting companies eliminated jobs to weather a deepening European economic slump.
The jobless rate, adjusted for seasonal swings, rose to 3 percent from 2.9 percent in the previous month, the State Secretariat for Economic Affairs in Bern said in an e-mailed statement today. That’s the highest since March 2011 and in line with the median forecast of 12 economists in a Bloomberg News survey. The unadjusted jobless rate rose to 2.9 percent.