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Unemployment shows slight increase

The jobless rate is up slightly


The number of people registered as unemployed increased slightly in July by 913 to 61,079. The unemployment rate remains at 1.7 per cent, the same as the previous month.

The State Secretariat for Economic Affairs (SECO) said around two thirds of the increase was attributable to the weaker economic environment, with the rest of the rise put down to seasonal factors.

Analysts say that despite the economic slowdown, a considerable rise in the jobless rate is not expected. The number of unemployed is expected peak at around 70,000 in 2002.

The Swiss economy is forecast to grow at between one and two per cent this year, down from the extraordinary rate of three per cent in 2000.

swissinfo with agencies


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