Swiss unemployment rate remains unchanged in October, in line with consensus

The unemployment rate in Switzerland remained unchanged during the month of October, largely in line with what markets had initially anticipated.

Switzerland's unemployment rate remained unchanged in October, data released by the State Secretariat for Economic Affairs showed Tuesday. The unemployment rate held steady at a seasonally adjusted 3.3 percent in October.

On an unadjusted basis, the unemployment rate came in at 3.2 percent, the same rate as seen in September. The number of unemployed people increased 1,856 from prior month to 144,531 in October.

Meanwhile, the youth unemployment rate, which applies to the 15 to 24 age group, eased slightly to 3.5 percent from 3.6 percent in September.