Swiss watchmaking sector faces rise in unemployment

The unemployment rate in the Swiss watchmaking touched 5.5% in September, up from 3% the year earlier. Switzerland overall experienced a slight increase in unemployment in September (2.5% after 2.4% in August). The State Secretariat for Economic Affairs (Seco), expects a further rise, albeit not too strong. "The trend of a slight increase in unemployment continued in September, as we expected," Jean-Christophe Lanzeray, head of the Labor Directorate at Seco, said in a conference call, commenting on data released early in the morning. This was particularly visible in the watchmaking sector, which presented an unemployment rate of 5.5%, up from 3% a year earlier. Weakening international demand, particularly in China and Hong Kong, weighed in, Lanzeray explained. + Get the most important Swiss news directly in your inbox "In the coming months we will see a further slight increase in unemployment, mainly due to seasonal effects," continued the expert, who pointed out that, moreover ...