Jobless rate remains flat in Switzerland

Switzerland's unemployment rate was unchanged in February when adjusted for seasonal factors, data showed yesterday, in line with expectations and indicating the downturn in the labour market was seeing some respite.

The unemployment rate was flat at 4.1 per cent when adjusted for seasonal factors compared to the previous month, the State Secretariat for Economic Affairs (Seco) said.

"There seems to be a stabilisation in the labour market, it may be a first sign that there will be a turnaround in the second quarter," said Jan Poser of Sarasin. "The labour market usually lags the economy by six months."

Switzerland emerged from the worst recession since 1975 last summer.

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