World Economy

Swiss Jobless Rate Rises

Swiss Jobless Rate Rises Swiss Jobless Rate Rises

Swiss unemployment jumped to 3.7% in December from 3.4% in the previous month, according to figures issued from Bern on Friday that suggest the Swiss economy is continuing to weaken in the face of a strong franc, NewsNow reported. The jobless rate rose for a third consecutive month to hit the highest level in more than five years, the monthly report from the state secretariat for economic affairs showed. The rate was well above the 3.4% recorded in December 2014 and marked the highest level since April 2010. The unemployment rate of foreigners climbed to 7.3% from 6.7% in November, while the level for Swiss citizens increased to 2.5 from 2.4%, Seco said. The overall number of people registered as unemployed at regional job centers in December totaled 220,209, 8% more than in the same month a year earlier. The average jobless rate for 2015 was 3.3%, up slightly from 3.2% in 2014.