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- Switzerland’s unemployment rate fell in September compared to the previous month from 3.3 to 3.2 percent, according to the Secretary of State for the Economy (Seco).
- Adjusted for seasonal factors, unemployment also fell to 3.3 from 3.4 percent.
- The drop is a surprise, as many industries are suffering the consequences of the crown crisis.
Economists had previously seen the unemployment rate in the range of 3.3 and 3.4 percent and the seasonally adjusted figure at 3.4 to 3.6 percent.
A total of 148,560 people in Switzerland were registered as unemployed with the regional employment centers (RAV) in September. That was 2,551 less than the previous month. Compared to the same month last year, the number was, however, vastly higher, namely at 49,462 people. At that time, that is, in the pre-crown period, the rate was still 2.1 percent.
Decrease in youth unemployment
Disaggregated by age, unemployment fell, especially among children. The rate among 15-24 year olds decreased to 3.6 from 3.9 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 practically unchanged from the previous month.
Meanwhile, Seco registered a total of 238,145 job seekers in September, 930 more than the previous month. Meanwhile, the number of vacancies reported to the RAV has decreased by 327 to 34,725. Of these, 20,388 were subject to the information requirement.
Part-time work is also declining
As usual, information on part-time work was also provided. However, officially, July values are only available. At that time, according to the information, 347,638 people were affected by part-time work after around half a million in June. At the height of the crown crisis in April it was a good million.
