The Swiss unemployment rate at its lowest level – Economy

The unemployment rate in Switzerland remained at its lowest level in ten years in June. Overall, as in May, 2.4 percent of the workforce was registered as unemployed. This should also mark the annual low point. From July or August, it will go up for seasonal reasons. In the summer, many young people finish school or apprenticeship and go on job search.

Seasonally adjusted, the unemployment rate remained at 2.6% in June. A total of 106,579 people were registered as unemployed at the Regional Employment Agencies (RAV). That's 2.6% less than the previous month and one-fifth less than last year, announced Monday the State Secretariat for the Economy (Seco). The numbers are not a surprise. Most economists surveyed by AWP were waiting for it.

The numbers go back to the correct inventory

Normally, June's unemployment rate drops again relative to May. At this time of year, the construction and hospitality industries are in full swing and are hiring employees. Also in June, the number of unemployed in these sectors decreased by about 1000 people each. However, the decline was dampened by a special effect, as Boris Zürcher, director of Seco Labor Directorate at a teleconference said

Since March, a new semi-automated system has been used. Registration of job seekers has been introduced to the RAV. Due to the change in registration, the drop in the number of unemployed was slightly oversubscribed between March and May, said Zürcher. In June, the introduction is now over. "We are back in normal mode."

Low point soon reached

This means that the number of unemployed will rise again from July or August, as Zürcher said. The seasonal increase in unemployment is likely to be felt first and foremost among young people: many leave school in the summer or graduate and then go to a RAV.

Currently, the unemployment rate for 15-24 year olds is 1, 9 percent – in the multi-year comparison, a very low value. For the year as a whole, the unemployment rate in all age groups is expected to be lower than initially forecast. It is only recently that the federal government has lowered its forecast from 2.9% to 2.6%. The labor market benefits from a widespread recovery of the Swiss economy

"Pleasing" Obligation of initial declaration

In high unemployment sectors Registered jobs started working in early July. As part of the implementation of "mass immigration initiative", employers in sectors with an unemployment rate of more than 8 percent must post job offers to the RAV on an annual average. These registered jobs will be exclusively reserved for job seekers registered for five days.

Currently, about 19 professions are concerned with the obligation to register. The introduction of the obligation to report had been successful on the scene, said Zürcher in the early days. Online services were widely used and computer systems operated on a regular basis. It is also nice to see that many companies and recruitment agencies have requested special interfaces to work directly with the system.

"We have received many job offers, even for non-compulsory jobs," continues Zürcher. Together: "Everything is very nice." Already in June, before the introduction of the system, job seekers were offered more job offers. The RAV received 16,854 vacancies. That's 10.9% more than the previous month and more than a third more than a year ago. (sept / sda)

Date created: 09.07.2018, 08:17