Contact us in London. +44-20-7842-9464 markettalk@wsj.com0726 GMT [Dow Jones]--The surge in the Swiss franc after the central bank dropped its franc cap hasn't yet impacted the Alpine country's employment market, according to the head of the labor directorate, Boris Zuercher. The rate of Swiss unemployment in January crept up to 3.5% from 3.4% in December, due largely to seasonal factors like the cold weather restricting building sector activity, he said. "We assume the higher franc will leave its traces on the Swiss employment market in coming months, but there has been no noticeable effect yet on the labor market," he says. The department of economic affairs is due to update its forecasts for Swiss growth and unemployment on March 19. (neil.maclucas@dowjones.com)
(END) Dow Jones Newswires
February 10, 2015 02:26 ET (07:26 GMT)
Description: Strong Franc Hasn't Hit Swiss Labor Market Yet -- Market Talk
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