Swiss job growth set to slow only slightly-survey

* KOF employment indicator dips, still points to job growth

* KOF says hiring picks up at insurers, wholesalers

* KOF says only hospitality business set to shed jobs

ZURICH, Nov 2 (BestGrowthStock) – Swiss firms are set to hire new
staff in the coming months despite an expected cooling of the
economy, a survey showed on Tuesday, fuelling hopes that
consumer spending will cushion some of the export slowdown.

The Alpine country has registered solid job growth since the
middle of last year and unemployment has been falling as the
economy emerged less bruised from the global recession than many
other European countries thanks to its resilient consumers.

The KOF’s quarterly employment indicator dipped to 10.7
points in October from 11.2 points in July after rising steadily
from its crisis trough of minus 14.2 points in April 2009, the
KOF Swiss Economic Institute said on Tuesday.

“The indicator is levelling off on a high level and points
to ongoing solid job growth,” KOF spokesman David Iselin said.

Signs have mounted recently that the strong Swiss franc is
taking its toll on the export-dependent economy and the Swiss
National Bank expects growth to ease “markedly” next year
compared to this year’s expected rate of around 2.5 percent.

The KOF said insurers and wholesalers planned to increase
hiring, while retailers, manufacturers and construction
companies expected to increase staff levels at an unchanged
pace. Only hotels and restaurants expected to cut staff numbers.

Employment in Switzerland already hit a fresh record high in
the second quarter, rising above pre-crisis levels as
immigration especially of highly-skilled professionals from
neighbouring countries remained strong.

The unemployment rate eased to 3.5 percent in September,
down from the high of 4.5 percent hit in the wake of the

Official employment numbers for the third quarter are due on
Nov. 25.

(Reporting by Sven Egenter; editing by Stephen Nisbet)

Swiss job growth set to slow only slightly-survey