Swiss Jobless Rate Steady at 2.1% for 3rd Month

The Swiss unemployment rate came in at a non-seasonally adjusted 2.1 percent in July 2019, unchanged from the previous two month's 17-1/2- year low and below market expectations of 2.2 percent.

The number of unemployed people increased by 1.974 from the previous month, or 2 percent, to 99,552 in August. Compared to the same month a year earlier, unemployment fell by 8,341, or 7.7 percent. Meanwhile, the number of jobseekers fell 1.431, or 0.8 percent, to 169.849; and dropped by 10.126 year-on-year, or 5.6 percent. 

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, rose to an eleven-month high of 2.5 percent in August from 2.1 percent in July, with the number of young unemployed increasing by 2,313, or 21.4 percent, to 13.142. Compared to August 2018, it fell by 1.356, or 9.4 percent.

When adjusted for seasonal factors, the unemployment rate came in at 2.3 percent in August, the same as in July.

Swiss Jobless Rate Steady at 2.1% for 3rd Month

SECO l Rida Husna |
9/9/2019 8:27:11 AM