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Swiss jobless rate rises to 3.4 percent

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16:28 CET+01:00

Switzerland's unemployment rate rose to 3.4 percent in January from 3.3 percent in December, official figures released on Wednesday showed.

At the end of last month there were 134,317 people registered as jobless, an increase of 3,655, the State Secretariat for Economic Affairs (Seco) said.

Unemployment among 15 to 24-year-olds rose by 3 percent or 559 people to 19,417.

Switzerland boasts one of Europe's lowest unemployment rates. In the eurozone the figure hit 10.4 percent at the end of last year, the highest level since 1998.

Swiss companies have however been cutting thousands of posts in recent months due to the poor shape of global finances.

In its forecast Seco said unemployment will likely hit 3.6 percent this year and 3.7 percent in 2013.

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