The clock and watch industry, representing Swiss quality, steadiness, uniqueness, precision, tradition, design and innovation, mechanical engineering and the textile industry are the major economic sectors in Switzerland. Moreover, it is famous for producing precision instruments and for products of the chemicals and pharmaceutical industry. Medical technology gains more and more importance. Most of the Swiss are employed in the trade, the health and the education sector as well as in the banking and insurance sector. Science and research is of high importance in Switzerland: 10 universities and two technical universities, the ETH Zurich and the EPF Lausanne, world famous institutes like the European Organisation for Nuclear Research (CERN) or the European laboratory of the US high-tech group IBM have seats in Switzerland.