The unemployment rate remained stable in Switzerland in October, at 2.5%, compared to September. Adjusted for seasonal variations, it stands at 2.6%, the State Secretariat for the Economy indicated on Tuesday in its monthly statement. Over one year, however, unemployment increased by 0.5 percentage points.
The rate of job seekers increased slightly, by 0.2 percentage points compared to the previous month, 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%. That of seniors (50 to 64 years old) amounted to 2.3%, or 0.1 percentage point more than the previous month.
At 4.6%, the unemployment rate for foreigners rose by 0.2 percentage points compared to the previous month, while for the Swiss it remained at 1.7%.
Regional disparities
By region, in French-speaking Switzerland and Ticino, unemployment stood at 3.5%, compared to 3% a year earlier, while in German-speaking Switzerland, it rose to 2.1%, after 1 .7% in October 2023.
Geneva (4.4%), Jura (4.3%), Neuchâtel (4%) and Vaud (4%) record the highest unemployment rates in the country. Over one year, the strongest growth was recorded in Neuchâtel, from 2.7% to 4%. The unemployment rate also stands at 2.7% in Valais, 2.4% in Friborg and 1.8% in Bern.
In 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.
The Secretariat for the Economy expects an unemployment rate of 2.4% for the whole of 2024, then an increase to 2.6% in 2025.
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Swiss
