Swiss unemployment rate at lowest level since 2001
Unemployment in Switzerland increased slightly in December. However, it is still at a low level. On average for the year as a whole, it was even at its lowest level since 2001.
At the end of December, 106,859 people were registered as unemployed with the regional employment centres. The rate in the last month of the year was therefore 2.3% after 2.1% in November, the State Secretariat for Economic Affairs (SECO) said on Tuesday.
Compared to December 2022, the number of unemployed people was 9,918 higher. It was therefore 10.2% higher than the previous year’s figure.
+ Labour shortage remains acute in Switzerland
The unemployment rate is usually subject to seasonal fluctuations because there is less work in the winter months, for example in construction, agriculture and catering. The unemployment rate adjusted by SECO for seasonal factors rose to 2.2% in December 2023 after 2.1% in the previous month.
Annual average at long-term low
According to SECO, the positive labour market trend continued at the beginning of the year before gradually normalising from March onwards. Nevertheless, a long-term low was recorded for the year as a whole.
In 2023, the average unemployment rate was 2%, SECO said. This is 0.2 percentage points lower than the previous year. The last time the unemployment rate was lower was in 2001 at 1.7%.
In absolute figures, an average of 93,536 people were registered as unemployed last year. This is 6.1% less than in the previous year.
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