RTTNews - Tuesday, the Swiss Federal Statistical Office announced that the employment increased 0.8% year-on-year in the first quarter, slower than the 1.6% in the previous quarter. Economists were looking for a decline of 0.1%.

The employment level stood at 3.957 million in the first quarter, down from 3.963 million in the preceding quarter. Economists had predicted the employment level at 3.92 million.

The short-term employment statistics indicate a worsening labor market outlook, the statistical office said.

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