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The unemployment rate remained at 3.2 percent in October. (Symbolic image: key)
Switzerland
Unemployment in Switzerland increased only slightly in October. As a result, it remained at 3.2 percent compared to the previous month.
This was announced by the Secretary of State for the Economy (Seco) this Monday. Adjusted for seasonal factors, the rate even decreased to 3.3 from 3.4 percent.
Thus, the consequences of the crown crisis on the Swiss labor market remain limited. Most economists expected in advance that the unemployment rate would be somewhat higher.
A total of 149,118 people in Switzerland were registered as unemployed with the regional employment centers (RAV) in October. That was 558 more than in the previous month.
Compared to the same month last year, the number was, however, vastly higher, namely at 47,434 people. At that time, that is, in the pre-Crown period, the rate was 2.2 percent.
Lower youth unemployment
Disaggregated by age, unemployment fell, as in the previous month, especially among young people. The rate among 15-24 year olds fell to 3.3 from 3.6 percent compared to the previous month. For those aged 25 to 49 (3.4%) and those aged 50 to 64 (3.0%), the rates remained unchanged from the previous month.
La Seco, for its part, registered a total of 241,460 job seekers in October, 3,315 more than the previous month. Meanwhile, the number of vacancies reported to the RAV has decreased by 4,054 to 30,671. Of these, a good half were subject to the information requirement.
As usual, information on part-time work was also provided. However, officially, August values are only available. At that time, according to the information, 304,400 people were affected by the reduced working hours after just under 350,000 in July. At the height of the crown crisis in April it was a good million.
