Swiss Unemployment Rate Down to 2.9% in June


Switzerland's unemployment rate fell to 2.9 percent in June from 3.0 percent in the previous month. In June of 2012, Swiss unemployment rate was 2.7 percent. Youth unemployment decreased to 2.8 percent from 2.9 percent in the previous month but is up 0.2 percentage points from June of 2012.

In June, 127 thousand people were registered as unemployed, 4.8 thousand less than in the previous month. Unemployment rose by 11.6 thousand persons (+10.1 percent) compared to the corresponding month of the previous year. Unemployment among young people (15-24 years) increased by 777 persons (+5.3 percent) compared to the same month of the previous year. Long-term unemployed increased by 1.7 thousand persons (+9.1 percent) to 20.5 thousand when compared to June of 2012. 

The number of vacancies has declined to 14.5 thousand in June. In the same month, 7.5 thousand people were employed in part-time, 128 more (+1.7 percent) than in the previous month. The number of companies using such measures has decreased by 45 units (-6.8 percent) standing at 621. In the same month of the previous year, 633 companies employed 7.44 thousand part-time workers. 

According to provisional data provided by unemployment funds, 2580 people have exhausted their entitlements to unemployment insurance in April of 2013.

When adjusted for seasonal factors, the unemployment rate stood at 3.2 percent, according to data released by SECO.

Swiss Unemployment Rate Down to 2.9% in June


SECO | Nuno Fontes | nuno@tradingeconomics.com
7/8/2013 9:42:56 AM