UPDATE 1-Swiss unemployment rises less than expected in Jan

* Swiss unadj jobless rate 4.5 pct in Jan

* Forecast was for 4.6 pct

* UBS ups 2010 Swiss growth forecast to 2 pct

(Adds analyst quotes, UBS outlook)

By Catherine Bosley

ZURICH, Feb 8 (Reuters) - Swiss unemployment ticked higher
in January, data showed on Monday, but that rise was less than
economists had forecast, indicating the nascent recovery in
other sectors might be filtering through to the labour market.

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.

"They're somewhat better than expected," said Fabian Heller,
an economist with Credit Suisse. "(But) it's not a turning
point."

"We assume that the jobless rate will rise, but not as
drastically as we had thought six months or a year ago," he
said.

In seasonally adjusted terms, the unemployment rated dropped
to 4.1 percent from the previous month's 4.2 percent.

Economists had forecast the non-adjusted jobless rate at 4.6
percent.ECONCH

Switzerland emerged from a deep recession last summer and
recent economic data point to recovery, but economists expect
joblessness to peak later this year.

UBS (UBSN.VX) raised its 2010 growth forecast for the Swiss
economy on Monday to 2 percent from an earlier forecast of 1.7
percent, saying immigration was likely to support consumption.

But the UBS economists cautioned the expected rise in
unemployment would weigh on consumer spending. Retail sales data
for December due later will shed more light on the resilience of
consumers in Switzerland.

The Swiss National Bank has forecast the Swiss economy to
grow by 0.5 to 1.0 percent this year after shrinking by 1.6
percent in 2009, but has cautioned uncertainties remain.

UBS said it expected inflation to be at 0.6 percent this
year, partly due to the strong Swiss franc.

The SNB has said it want to cap an excessive rise of the
franc to prevent deflation. [ID:nLDE6140NM]

(Editing by Toby Chopra)