Swiss Jobless Rate at 32-Month Low

Switzerland’s unadjusted unemployment rate dropped to 3% in June from 3.1% in May and in line with market estimates. It was the lowest jobless rate since October 2014, as the number of unemployed and jobseekers fell, tradingeconomics reported. In June, there were 133,603 unemployed persons enrolled at the regional employment centers, about 6,175 less persons than in the prior month. Compared to the same month a year earlier, unemployment decreased by 5,524 persons (-4%). The number of jobseekers reached 196,896, a drop of 5,523 persons compared with May while it decreased by 4,235 compared with the same period last year. Youth unemployment (15 to 24 year old) fell 848 persons to 14,108. Compared to June 2016, this represents a decrease of 1,683 people (-10.7%). Adjusted for seasonal factors, the unemployment rate stood at 3.2%, the same as the prior two months. Unemployment rate in Switzerland averaged 3.34% from 1995 until 2017, reaching an all time high of 5.40% in March of 1997 and a record low of 1.60% in November of 2000.