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Swiss unemployment rate (sa) remained at 3.8% in August, unchanged from a month ago |
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07.09.10 17:36 |
Thorsten Polleit
In August, the Swiss unemployment rate (sa) remained at 3.8%, unchanged from the previous month. Unemployment stood at 149,364 from 150,859 a month ago. Against the backdrop of weakening sentiment indicators, slower growth in the second half of this year may already foreshadow its effect on the domestic labour market - that is a slowing down of the decline in the unemployment rate. We continue to expect the Swiss National Bank (SNB) to keep rates (currently the 3m Libor target rate is at 0.25%) unchanged at least until the second half of 2011.
source: BarCap
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