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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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
