Switzerland Jobless Rate at 8-Month Low

Switzerland unadjusted unemployment rate fell to 3.3 percent in May of 2016 from 3.5 percent in April and below market expectations. It is the lowest jobless rate since October 2015 as the number of unemployed and jobseekers were down.

In May, there were 144,778 unemployed persons enrolled at the regional employment centers, about 4,762 less persons than in the previous month. Compared to the same month a year earlier, unemployment increased by 8,429 persons (+6.2 percent). 

The number of jobseekers reached 206,239, less 4,687 persons than in the previous month and 13,441 more than a year earlier (+7.0 percent).

Youth unemployment (15 to 24 year old) decreased by 1,148 persons (-6.4 percent) to 16,723. Compared to May 2015, this represents an increase of 371 people (+2.3 percent).

Adjusted for seasonal factors, the unemployment rate stood at 3.5 percent, the same pace as in April. 

Switzerland Jobless Rate at 8-Month Low

Seco l Rida Husna | rida@tradingeconomics.com
6/9/2016 8:24:05 AM