Positive labour market situation in Switzerland despite gloomy manufacturing outlook
Employment prospects in Switzerland will remain good in the coming months, according to the KOF economic research center. There are only signs of a decline in employment in the manufacturing sector.
This content was published on
2 minutes
Keystone-SDA
Español
es
Situación positiva del mercado laboral suizo pese a las sombrías perspectivas del sector manufacturero
The employment indicator calculated by the ETH economic research center KOF fell for the third time in a row in the fourth quarter, but remains clearly in positive territory, announced the KOF on Monday. For the fourth quarter of 2023 it is still at 7.7 points, after the slightly downward revision from 9.2 points in the previous quarter.
The KOF economists emphasise that it is still significantly above the long-term average of “close to zero” and also higher than before the Covid-19 pandemic. Since its peak in the second quarter of 2022, it has more than halved.
The KOF employment indicator is calculated from KOF’s quarterly economic surveys. According to the announcement, the evaluations for the fourth quarter are based on the answers from around 4,500 companies that were surveyed in October about their employment plans and expectations.
Stable unemployment
On Tuesday, the State Secretariat for Economic Affairs (Seco) also put out employment figures for October. Although the number of people registered as unemployed rose last month, the unemployment rate stayed at 2%.
Job search data also showed that there were 160,373 job seekers. That was 6,838 more people than in the previous month, but only 279 more than a year ago. The number of vacancies reported to the regional employment offices (RAV) fell by 1,292 to 45,899
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
New gel developed in Zurich renders alcohol harmless
This content was published on
A newly developed gel composed of whey proteins breaks down alcohol in the body and could reduce its harmful and intoxicating effects in humans.
Pro-Palestine protests extend to Basel and Fribourg universities
This content was published on
Demonstrators called for an academic boycott of all Israeli institutions and disassociation with Chaim Weizmann, the first Israeli president.
This content was published on
In many cases, China's use of AI undermines the national security of the US and its allies, according to a US government representative.
Swiss Hells Angels trial alleges rape and money laundering
This content was published on
An allegedly high-ranking member of the Hells Angels is accused of money laundering totalling millions and rape, among other serious crimes.
SWISS is airline ‘group flagship’ says Lufthansa boss
This content was published on
Despite challenges, Lufthansa and its most important subsidiary, Swiss International Airlines, promise increased satisfaction and continued growth.
Swiss rediscover communist zeal after 84-year hiatus
This content was published on
Over 300 participants founded the Revolutionary Communist Party (RKP) at its congress in Burgdorf in canton Bern at the weekend.
This content was published on
Nemo brought the Eurovision Song Contest to Switzerland with a victory on Saturday evening in Malmö, Sweden. It is Switzerland's third victory in the history of the music contest.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss unemployment rate drops below 2%
This content was published on
The number of people receiving unemployment benefit in Switzerland fell again in May, with the jobless rate settling below the 2% mark.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.