Unemployment fell in August in Switzerland

Unemployment fell in August in Switzerland
Unemployment fell in August in Switzerland

The unemployment rate fell to 2.7% in August, after stabilizing at 2.8% in June and July. At the end of last month, 126,355 people were registered as unemployed with the regional employment offices (ORP), or 1,924 less over a month.

Over one year, unemployment fell by 24,756 people (-16.4%), according to statements from the State Secretariat for the Economy (Seco) published on Tuesday. The seasonally adjusted unemployment rate was 2.9% (-0.1 percentage point).

Economists polled by AWP got it right, expecting an unemployment rate (not seasonally adjusted) between 2.7% and 2.8% in August. In seasonally adjusted terms (CVS), experts put it between 2.9% and 3.0%.

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.

Seco also publishes data on short-time working with a lag. Last June, reductions in working hours affected 162,290 people, 37% less than the previous month. More than 21,000 companies have used it, a drop of 40.6%.

By the end of June, 2,192 people had exhausted their rights to unemployment insurance benefits, up from 46 in May.



Unemployment fell August Switzerland

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