-- Swiss businesses maintained a steady employment outlook for the second quarter, despite rising energy costs and global supply chain volatility triggered by the Iran conflict, the KOF Swiss Economic Institute said Monday.
The KOF employment indicator rose to 2.2 points from the revised 2.1 points in the first quarter, slightly higher than the long-term average of 1.7 points. Meanwhile, the net balance of employment expectations for the next three months remained at 2.9 points, with more companies planning to hire rather than reduce their headcount.
On a sectoral level, the employment outlook brightened within the wholesale and manufacturing segments, even as both segments remain in contraction territory. Conversely, the outlook for hospitality, retail, and other services softened slightly.