Switzerland CHF

Switzerland Non Farm Payrolls

Info

History

Chart

Impact:

Low

Source: Swiss Federal Statistical Office

Latest Release:

Date:

Surprise:

-0.008M

Actual:

5.532M

Forecast: 5.54M

Previous/Revision:

5.515M

Period: Q3

Next Release:

Date:

Period: Q4

What Does It Measure?

The Switzerland Non-Farm Payrolls (NFP) measures the total number of paid workers in Switzerland, excluding farm workers and workers in a handful of other job categories. This indicator primarily focuses on employment trends and serves as a key assessment of the labor market's health in Switzerland.

Frequency

The Switzerland Non-Farm Payrolls report is typically released on a monthly basis, with data reflecting the employment situation for the previous month.

Why Do Traders Care?

Traders pay close attention to the NFP report as it provides vital information about employment trends directly affecting consumer spending and economic growth, which can have significant implications for Swiss franc (CHF) valuation, equities, and bond markets. A positive surprise in the data generally leads to an appreciation of the CHF and bullish sentiment in stock markets, while disappointing figures can trigger bearish reactions.

What Is It Derived From?

The NFP is derived from a comprehensive survey conducted across various sectors in the Swiss economy, focusing on businesses of different sizes and industries. This data collection employs standardized methodologies, including sampling and weighting techniques to reflect accurate employment statistics.

Description

Preliminary reports of the NFP are based on early estimates that are subject to revision, with final data released later for a more precise reflection of employment conditions. This indicator typically reports on a month-over-month (MoM) basis, thereby allowing traders to identify short-term employment shifts and trends.

Additional Notes

The NFP serves as a coincident economic measure, reflecting current employment levels that relate closely to overall economic performance in Switzerland. It is often compared with other labor indicators, such as unemployment rates or monthly job creation numbers from different countries, to assess relative economic strength across regions.

Bullish or Bearish for Currency and Stocks

If the actual NFP value exceeds expectations, it will be seen as higher than expected: Bullish for CHF, Bullish for Stocks. Conversely, if the actual figure falls below predictions, it would be classified as lower than expected: Bearish for CHF, Bearish for Stocks.

Legend

High Potential Impact
This event has a strong potential to move markets significantly. If the 'Actual' value differs enough from the forecast or if the 'Previous' value is significantly revised, it signals new information that markets may rapidly adjust to.

Medium Potential Impact
This event may cause moderate market movement, especially if the 'Actual' deviates from the forecast or there's a notable revision to the 'Previous' value.

Low Potential Impact
This event is unlikely to affect market pricing unless there's an unexpected surprise or a major revision to prior data.

Surprise - Currency May Strengthen
Actual deviated from Forecast on a medium or high impact event and historically could strengthen the currency.

Surprise - Currency May Weaken
Actual deviated from Forcast on a medium or high impact event and historically could weaken the currency.

Big Surprise - Currency More Likely To Strengthen
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely strengthen the currency.

Big Surprise - Currency More Likely To Weaken
'Actual' deviated from 'Forecast' more than 75% of historical deviations on a medium or high impact event and may likely weaken the currency

Green Number	Better than forecast for the currency (or previous revise better)
Red Number	Worse than forecast for the currency (or previous revise better)
Hawkish	Supports higher interest rates to fight inflation, strengthening the currency but weighing on stocks.
Dovish	Favors lower rates to boost growth, weakening the currency but lifting stocks.

Date	Actual	Forecast	Previous	Surprise
Nov 24, 2025	5.532M	5.54M	5.515M	-0.008M
Aug 25, 2025	5.532M	5.5M	5.511M	0.032M
May 26, 2025	5.512M	5.5M	5.534M	0.012M
Feb 24, 2025	5.534M	5.3M	5.528M	0.234M
Nov 25, 2024	5.528M	5.5M	5.499M	0.028M
Aug 26, 2024	5.499M	5.1M	5.481M	0.399M
May 24, 2024	5.484M	5.4M	5.488M	0.084M
Feb 23, 2024	5.488M	5.5M	5.465M	-0.012M
Nov 24, 2023	5.465M	5.25M	5.432M	0.215M
Aug 25, 2023	5.432M	5.428M	5.389M	0.004M
May 26, 2023	5.389M	5.3M	5.398M	0.089M
Feb 24, 2023	5.398M	5.3M	5.362M	0.098M
Nov 25, 2022	5.362M	5.4M	5.316M	-0.038M
Sep 02, 2022	5.316M	5.225M	5.273M	0.091M
May 30, 2022	5.227M	5.25M	5.239M	-0.023M
Feb 24, 2022	5.239M	5.25M	5.213M	-0.011M
Nov 26, 2021	5.213M	5.15M	5.126M	0.063M
Aug 26, 2021	5.126M	5.115M	5.101M	0.011M
May 27, 2021	5.101M	5.19M	5.141M	-0.089M
Feb 26, 2021	5.135M	5M	5.138M	0.135M
Nov 26, 2020	5.138M	4.89M	5.095M	0.248M
Aug 25, 2020	5.095M	4.765M	5.132M	0.33M
May 26, 2020	5.102M	4.951M	5.13M	0.151M
Feb 25, 2020	5.13M	5.115M	5.137M	0.015M
Nov 26, 2019	5.137M	5.128M	5.109M	0.009M
Aug 29, 2019	5.109M	5.095M	5.071M	0.014M
May 27, 2019	5.071M	5.025M	5.068M	0.046M
Feb 25, 2019	5.068M	4.991M	5.07M	0.077M
Nov 26, 2018	5.07M	5.051M	5.048M	0.019M
Aug 28, 2018	5.048M	4.985M	4.961M	0.063M
Jun 04, 2018	4.961M	4.999M	4.962M	-0.038M
Feb 26, 2018	4.962M	4.963M	4.956M	-0.001M
Nov 27, 2017	4.956M	4.929M	4.915M	0.027M
Aug 28, 2017	4.91M	4.91M	4.88M
May 29, 2017	4.88M	4.92M	4.92M	-0.04M
Feb 27, 2017	4.912M	4.925M	4.918M	-0.013M
Nov 29, 2016	4.918M	4.9M	4.903M	0.018M
Aug 30, 2016	4.903M	4.9M	4.88M	0.003M
May 27, 2016	4.88M	4.9M	4.89M	-0.02M
Feb 26, 2016	4.9M	4.24M	4.24M	0.66M
Feb 26, 2016	4.89M		4.9M
Aug 25, 2015	4.244M	4.24M	4.225M	0.004M