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Jobless rate hits six-year low

Unemployment in Switzerland fell to the lowest level in nearly six years in May according to the State Secretariat of Economic Affairs.

This content was published on June 9, 2008 - 15:21

The latest figures come amid hopes that healthy consumer spending will bolster the economy despite a slowdown of exports in the wake of a global economic cooling.

The number of registered jobless fell by more than 5,700 compared with April to 95,166 – or 2.5 per cent – which is the lowest level since July 2002.

But the number of vacancies also fell slightly to 15,414.

The jobless rate is twice as high in the French- and Italian-speaking regions compared with the main German-speaking part of the country.

The Swiss economy, which had recorded above average growth since 2004, lost steam at the beginning of the year. Surveys point out that the labour market will be affected sooner or later.

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