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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
SwitzerlandSwitzerland Non Farm Payrolls fell to 5.54M in January 2026
FMPMonthlyReleased May 2026
Switzerland Non Farm Payrolls fell to 5.54M in January 2026, released May 2026, down 0.01M from December's 5.54M reading. The reading matched the 5.4M consensus.
Latest Release
5.537
Actual
5.4
Consensus
5.544
Previous
Median Absolute Error
±0.03 million
across last 12 releases
Last Call
May 2026
Predicted: 5.4
Actual: 5.54
Error: -0.14
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/CHF | ▼ Inverse | −0.50 | FOREX | Bullish CHF | → View |
| EUR/CHF | ▼ Inverse | −0.45 | FOREX | Bearish EUR | → View |
| CHF/JPY | ▲ Direct | +0.40 | FOREX | Bullish CHF | → View |
| XAU/USD | ▲ Direct | +0.35 | COMMODITIES | Watch | → View |
| GBP/CHF | ▼ Inverse | −0.35 | FOREX | Bullish CHF | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Non Farm Payrolls (Switzerland) was reported at 5.54 million in May 2026. This beat the market consensus of 5.40 million by 0.14 million. The reading fell from the previous value of 5.54 million. Trailing 12-month context per ETL data through May 2026.
WHY IT MATTERS
The trailing three releases averaged 5.54 million, up from the prior three at 5.53 million. In May readings over the past 3 years, Non Farm Payrolls has averaged 5.51 million.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/CHF (Bullish CHF). A secondary relationship exists with EUR/CHF, negatively correlated (Bearish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.03 million.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 18) and SNB Interest Rate Decision (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Non Farm Payrolls - CH
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About Non Farm Payrolls — Switzerland
DEFINITION
Non Farm Payrolls is a key economic indicator that measures the total number of paid workers in the United States, excluding farm workers, government employees, and non-profit organization employees. It provides valuable insight into the health of the labor market and overall economic growth, making it a crucial tool for investors, policymakers, and analysts. The data is released monthly by the Bureau of Labor Statistics and is closely monitored for any changes or trends that may impact the economy.
WHY THIS INDICATOR MATTERS
Labor-market data shapes consumer-spending forecasts and is closely tracked by central banks assessing the output gap and wage-inflation pass-through. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jan 2026): actual 5.537 M, consensus 5.4 M. Prior reading (Oct 2025): 5.544 M. Before that (Jul 2025): 5.532 M.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CHF (Bullish CHF, r=-0.50) — a useful reference for forex-focused traders.