Latest data released by the Federal Statistics Office - 8 July 2020
- Prior 3.4%
- Seasonally adjusted unemployment rate 3.3% vs 3.6% expected
- Prior 3.4%
Swiss unemployment actually came down in June after the tick higher seen over the past few months amid the fallout from the virus outbreak. This is a bit of a surprise, and it either points to the economy taking a less severe hit than anticipated from the crisis or that government support programs actually worked out extremely well.
But for the franc and the SNB, measures of inflation will continue to be the key factor to be mindful about despite the positive takeaway from the data above.
