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Swiss jobless rate lowest since November 2001

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Christian Fernsby ▼ | July 10, 2019
Swiss jobless
European economies   This was the lowest jobless rate since November 2001

The Swiss unemployment rate dropped to to a non-seasonally adjusted 2.1 percent in June 2019 from 2.3 percent in the previous month and below market expectations of 2.2 percent.

This was the lowest jobless rate since November 2001, as the number of unemployed declined further.

The number of unemployed people decreased by 4,148 from the previous month, or 4.1 percent, to 97,222 in June.

Compared to the same month a year earlier, unemployment fell by 9,357, or 8.8 percent. Also, the number of jobseekers fell by 5,328, or 3 percent, to 170,800; and dropped by 8,977 year-on-year, or 5 percent.

Youth unemployment rate, measuring job-seekers between 15 and 24 years old, was unchanged at 1.9 percent in June, with the number of young unemployed declining by 287, or 2.9 percent, to 9,762. Compared to June 2018, it fell by 9.1 percent.

When adjusted for seasonal factors, the unemployment rate edged down to 2.3 percent in June from 2.4 percent in May.

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