*Watch Industry*

+Swiss is preparing new economic stimulus package+

Switzerland economic indicators were quite good last year, which used to make the whole nation feel relieved. However, recently State Secretariat for Economic Affairs of Switzerland has expressed that the Switzerland economy has encountered extreme difficulties in 30 years, and predicted that the GNP would be decreased by 2.2% this year, and the unemployment rate of 2010 may increase to 5%.
Meanwhile, Switzerland Social Democratic Party, Christian Democratic Party and Labor Union also claimed publicly that, at the end of 2010, the number of young Unemployed Group would increase. According to statistics, young unemployed group under 24 years old in February this year has increased 30% compared with the same period last year. The above prediction and claim make Swiss people specially worry about the national economy and employment prospect, becoming the national topic. They required the governments of Federal and each state to come on with strong rejuvenating economy policy.
To against this global financial and economic crisis effectively, all sections of Swiss have taken actions since last year. The government had launched two economy rejuvenation plans successively and called on and encouraged every industry to reduce job losses by tax; and all the economic sections have responded positively, they cut the cost by reducing working hours and try to keep the job market stable. In December last year, more than 300 companies in Switzerland reduced the working hours and in January this year, another 1200 companies have joined them. In the same time of reducing working hours, most of companies train their staff to against the possible difficulties in the future job market. A recent economy investigation shows that, presently more than 50% employees in Switzerland would rather get less salary than lose job and they have got prepared for changes.
But things go contrary against our wishes; the total export amount of February in Switzerland has dropped 17.3%, among others, the metal industry has fallen by 36.6%, weaving and plastic product industries has fallen by 30% and watch industrywith a drop of 22.4%; United bank of Switzerland recently announced that they would reduce the employment this year, and Swiss Re-insurance Company has also decided to carry out a 10% job cut globally. As one of the three biggest chain shop in Switzerland, “Agate” also prepares to take such action.