Swiss Jobless Rate Falls to Near 11-Year Low

The Swiss unemployment rate edged down to a non-seasonally adjusted 2.3 percent in May 2019 from 2.4 percent in the previous month and matching market expectations. This was the lowest jobless rate since July 2008, as the number of unemployed declined further.

The number of unemployed people decreased by 5,928 from the previous month, or 5.5 percent, to 101,370 in May. Compared to the same month a year earlier, unemployment fell by 8,022, or 7.3 percent. Also, the number of jobseekers fell by 7,421, or 4 percent, to 176,128; and dropped by 9,339 year-on-year, or 5 percent. 

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, inched lower to 1.8 percent in May, the lowest since September 2001, from 1.9 percent a month earlier, with the number of young unemployed declining by 612, or 5.7 percent, to 10,049. Compared to May 2018, it fell by 7.8 percent.

When adjusted for seasonal factors, the unemployment rate stood at 2.4 percent in May, unchanged from the previous month.

Swiss Jobless Rate Falls to Near 11-Year Low

SECO | Rida Husna |
6/7/2019 11:56:40 AM