Swiss Jobless Rate Highest Since 2021

Switzerland’s non-seasonally adjusted unemployment rate stood at 3.0% in May 2026, unchanged from April and above market expectations of 2.9%. The number of unemployed people fell by 2.6 thousand from the previous month to 140.2 thousand, although unemployment remained 9.6% higher than a year earlier. The decline in unemployment was broad-based across most cantons, with the sharpest decreases recorded in Graubünden (-13.7%), Freiburg (-4.8%), and Wallis (-4.4%). By sector, unemployment fell notably in construction (-6.5%) and hospitality (-5.4%), reflecting seasonal improvements in labor demand. Meanwhile, the number of unemployed workers in finance and insurance services increased by 0.8% from April and was 19.4% higher than a year earlier. Youth unemployment, defined as job-seekers aged 15 to 24, was unchanged at 2.7%, while job vacancies fell by 3.7 thousand to 44.7 thousand. On a seasonally adjusted basis, the jobless rate edged up to 3.1% from 3.0%.

Switzerland’s non seasonally adjusted unemployment rate fell to 3% in April 2026 from 3.1% in March, marking the lowest level in six months. The number of unemployed people declined by 3,353 from the previous month to 142,902, though it remained 9.8% higher than a year earlier. On a seasonally adjusted basis, unemployment was broadly stable at 3%, with the number of unemployed edging up slightly to 141,847. Youth unemployment among those aged 15 to 24 dropped by 6.5% from March to 11,823, lowering the jobless rate for that group to 2.7%, although it was still above year ago levels. Unemployment among older workers aged 50 to 64 also declined by 2% on the month to 39,837, bringing their unemployment rate down to 2.7%, while remaining higher compared with April 2025.

Switzerland’s non-seasonally adjusted unemployment rate edged down to 3.1% in March 2026 from 3.2% in each of the previous two months, which had marked the highest level since April 2021. The latest reading came in slightly below market expectations of 3.2%. The number of unemployed persons fell by 4.8 thousand from a month earlier to a four-month low of 146.3 thousand. The youth unemployment rate, measuring job-seekers between 15 and 24 years old, dropped to 2.9%, the lowest level since July 2025, from 3.1% in February, with the number of young unemployed decreasing by 0.9 thousand to 12.6 thousand. Meanwhile, reported job vacancies increased by 0.7 thousand to 48.8 thousand. On a seasonally adjusted basis, the jobless rate remained unchanged at 3.0% in March.