The labor market situation in Switzerland improved in August. The unemployment rate fell to 2.7%, after stabilizing at 2.8% in June and July. At the same time, partial unemployment, which has made it possible to limit the damage to work in the midst of the pandemic, is still decreasing.
At the end of August, 126,355 people were registered as unemployed with the regional employment offices (ORP), i.e. 1,924 less over a month. In annual comparison, unemployment fell by 24,756 people (-16.4%), according to statements from the State Secretariat for Economic Affairs (Seco) published Tuesday. In August 2020, the unemployment rate stood at 3.3%.
The situation continues to present “an exceptionally positive dynamic,” Boris Zürcher, Chief Labor Officer of Seco assured in a conference call.
The summer decline is due in particular to seasonal reasons, with greater labor requirements in construction, tourism and catering. Borus Zürcher is also pleased with the very high number of vacancies, showing that companies want to hire.
On a monthly basis, youth unemployment increased by 13.1% affecting 13,801 people, while the number of unemployed aged 50-64 fell by 2.8% to 38,027 people. Compared with August 2020, the unemployment of the former fell by a third and that of the latter by 4.5%.
Contrasting situation around Lake Geneva
In French-speaking Switzerland, Geneva (4.8%) remains the national red lantern, despite a decline of 0.1 percentage point. In the Jura, the drop reached 0.2 percentage point to 4.6%. Valais stabilized at 2.5%. On the other hand, the unemployment rate increased in Ticino (2.8%) and in the canton of Vaud (3.9%), mainly because of the arrival on the labor market of young people at the end of their training. or studies.
Zurich is in the national average (2.7%), Bern was maintained at 2.2% while Basel-City fell to 3.6%. The rate remained at 2.0% for Swiss passport holders and decreased for foreign nationals to 4.7%.
The total number of registered job seekers stands at 214,415 people, or 4,768 less than in July and 22,800 less than twelve months earlier.
Seco also publishes data on short-time working with a lag. Last June, reductions in working hours (HRT) affected 162,290 people, 37% less than the previous month. More than 21,000 companies used it, a drop of 40.6% and the number of lost working hours fell by 47% to 8.5 million.
Partial unemployment on the decline
Another sign of the improvement in the situation compared to last summer, short-time work had raged in June 2020 in 52,405 companies, affecting 488,312 people and resulting in the loss of 28.4 million working hours. .
Boris Zürcher does not exclude that this number may drop below 100,000 people in August. He is still “very confident” for the rest of the year, but is considering restructuring in certain sectors such as aviation. Seco forecasts an unemployment rate of 3.1% in 2021 and 2.8% the following year.
>> Also review the subject of 12:45 on August 10 on the decline in short-time working