Swiss unemployment rises to 2-year high in January

Switzerland's unemployment rate
rose to a two-year high in January, data showed today, as
companies axed jobs at a faster rate in reaction to the
economic downturn, Reuters reported.
The rate rose to 3.3 percent from 3.0 percent in December,
marking the highest level since January 2007, the State
Secretariat for Economic Affairs (SECO) said on Friday.
The total number of unemployed rose by 9,668 to 128,430 in
January, also the highest in 2 years. When adjusted for
seasonal swings, the unemployment rate ticked up to 2.9 percent
from 2.8 percent in December.
Analysts had expected an adjusted rate of 2.9 percent and
an unadjusted rate of 3.2 percent.
The number of vacancies rose by 1,469 to 11,213, the SECO
said.