INSTANT VIEW 1-Swiss adj. jobless rate down to 4.1 pct in Jan

ZURICH, Feb 8 (Reuters) - The Swiss unemployment rate rose to a non-seasonally adjusted 4.5 percent in January from 4.4 percent in the previous month, the State Secretariat for Economic Affairs said on Monday.

When adjusted for seasonal factors, the unemployment rate stood at 4.1 percent after 4.2 percent in the previous month.



KEY FIGURES

Jan 10 Dec 09 Jan 09

Jobless rate unadj. pct* 4.5 4.4 3.3

Jobless rate adj. pct** 4.1 4.2 3.0

Registered unemployed 175,765 172,740 128,430

Job vacancies 12,528 10,824 11,213

* = non-seasonally adjusted

** = seasonally adjusted, year-ago month as stated in the latest monthly statistical report of the Swiss National Bank



For more details from the SECO statement in German, Reuters 3000 Xtra users can click on:

http://www.seco.admin.ch/aktuell/00277/01164/01980/index.html?lang=de&msg-id=17647



ANALYSTS' COMMENTS



ALESSANDRO BEE, SARASIN

'It's good, especially the seasonally adjusted numbers, which are falling for the first time in a while. We used to think there would be a turning point only in the middle of the year.

'However, the numbers in the winter months should be taken with caution because of the seasonal effects. If the conditions are good, construction can go ahead and there's more work.

'We're going to start thinking about projecting a somewhat earlier turning point. Unemployment is developing better than expected. We thought the decline in employment would have been bigger than it is.'


FORECAST

Economists surveyed by Reuters had expected the non-adjusted jobless rate at between 4.4 and 4.6 percent with the median of 8 forecasts at 4.6 percent.



For more details from the SECO statement in German, Reuters 3000 Xtra users can click on:

http://www.seco.admin.ch/aktuell/00277/01164/01980/index.html?lang=de&msg-id=17647



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