Job market in Switzerland –
Unemployment rate remains stable in October 2024
Over one year, however, unemployment in Switzerland increased by 0.5 points. In the canton of Vaud, the number of unemployed people increased by 300 compared to September 2024.
Published today at 11:45 a.m.
In October, 34,471 advertisements for vacant positions were made to the regional employment offices (ORP), a figure down by around a quarter over one year.
KEYSTONE/Jean-Christophe Bott
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The unemployment rate remained stable in October at 2.5% compared to September. Adjusted for seasonal variations, it stands at 2.6%, indicated Tuesday the Secretariat of the Economy in its monthly statement. Over one year, however, unemployment increased by 0.5 percentage points.
The rate of job seekers rose slightly, by 0.2 percentage points compared to the previous minimum, to reach 4.2%. Adjusted for seasonal variations, it stands at 4.3% (+0.1 point).
The unemployment rate for young people, aged 15 to 24, decreased by 0.1 percentage point compared to the previous month, to reach 2.6%. The unemployment rate for seniors, aged 50 to 64, has seen a similar trend. It stood at 2.3%, 0.1 percentage points higher than the previous month.
In October, 34,471 advertisements for vacant positions were made to the regional employment offices (ORP), a figure down by around a quarter over one year. Among them, 16,476 concerned positions subject to the notification obligation, for sectors in which the unemployment rate is greater than 5%. Over one year, this figure is down by around a quarter.
The professions for which vacant places are subject to an announcement obligation are very varied. The list, which evolves each year, includes, among others, event organizers, actors, call center employees, receptionists and several construction trades.
Stable rate in the canton of Vaud
In the canton of Vaud, the unemployment rate remains at 4.0% at the end of October 2024. The number of unemployed people increased by 300 people compared to the end of September 2024 (+ 1.8%), the canton of Vaud had 16,731 at the end of October. The number of job seekers shows a more marked variation. It has 25,869 people, or 646 (+2.6%) more than in October 2023 when the unemployment rate was 3.3%.
The Vaudois ORPs registered 3,803 new people and canceled 3,154 files during the month of October 2024. In addition, 2,506 vacant work places were announced to the ORPs, which represents a decline of 17.8% compared to September. 2024.
In the canton of Vaud, the number of unemployed people suffered only very slight variations compared to the previous month. Catering specialists and assistants and bartenders, as well as cleaning and concierge services, recorded the highest monthly increases. Young people under the age of 20 and care assistants and childminders show the most significant reductions.
Regionally, four out of ten districts maintain a stable unemployment rate: Lavaux-Oron (3.1%), Nyon (3.6%), Broye-Vully (4.4%). and Lausanne (4.9%). The other six districts are experiencing an increase in the unemployment rate. The Aigle district (4.5%) recorded the strongest increase of 0.3 points, followed by the West Lausanne district (5.0%) with +0.2 points.
Regional disparities
By region, in French-speaking Switzerland and Ticino, unemployment stood at 3.5%, compared to 3.0% a year earlier, while in German-speaking Switzerland, it rose to 2.1%, after 1.7% in October 2023.
The cantons of Jura, Geneva, Neuchâtel and Vaud all recorded an unemployment rate greater than or equal to 4.0%. The strongest annual increase was recorded in Neuchâtel, where unemployment rose from 2.7% to 4.0% in the space of one year.
Note, however, that the calculation of unemployment differs depending on the cantons, a minority including unemployed people benefiting from certain social assistance, which has the effect of increasing the unemployment rate. Thus, within the cantons of Vaud, Neuchâtel and Geneva, the rate would be lower.
Conversely, the sparsely populated cantons of Obwalden, Nidwalden and Appenzell Innerrhoden recorded an unemployment rate of 1.0% or less.
During the month of August, around 2,500 people exhausted their rights to unemployment benefits, an increase of 1.8% compared to the previous month. Furthermore, 278 companies had measures to reduce working hours in August, affecting 4,256 employees, or 12.3% less than in July.
Seco expects an unemployment rate of 2.4% for the whole of 2024, then an increase to 2.6% in 2025.
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Mathilde Schott is a freelance journalist within the digital unit of Tamedia. She has just obtained her Master’s degree from the Academy of Journalism and Media (AJM) at the University of Neuchâtel.More info
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