A quarterly report from the Federal Statistics Office in Switzerland noted a rapid decline in full-time employees working in the Swiss economy. First quarter data had full-time employment at 4.11M, and expectations were for zero change in that figure for the second quarter. The results were harrowing.
A decline from last quarter’s 4.11M to a second quarter reading of 2.77M revealed a sizeable dip in employment across the Swiss economy. The data has so far tangled the Swiss franc (CHF) up in a foray for direction, marring its growth with visible swings of value today. Employment tends to be one of the strongest corollaries to a nation’s economic growth, making this figure ominous in its implications for the next few months in Switzerland.
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