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Switzerland Unemployment in October 2017: Situation on the Labor Market

Unemployment Rate (not seasonally adjusted)

Bern, 09.11.2017 – Registered unemployment in October 2017 – According to surveys by the State Secretariat for Economic Affairs (SECO), 134,800 unemployed people were registered at the Regional Employment Centers (RAV) at the end of October 2017, 1,631 more than in the previous month. The unemployment rate remained at 3.0% in the month under review. Compared with the same month last year, unemployment fell by 9,731 (-6.7%).

Switzerland Unemployment Rate n.s.a. October 2017

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Switzerland Unemployment Rate n.s.a. October 2017

Source: Investing.com - Click to enlarge

Seasonally adjusted Unemployment Rate

The seasonally adjusted unemployment rate remains unchanged at 3.1%.

Switzerland Unemployment Rate s.a., October 2017

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Switzerland Unemployment Rate s.a., October 2017

Source: Investing.com - Click to enlarge

Number of unemployed and Job seekers

Youth unemployment in October 2017
Youth unemployment (15-24 year-olds) decreased by 804 (-4.5%) to 16,905. Compared to the same month of the previous year, this represents a decline of 2,190 people (-11.5%).

Unemployed 50 and more in October 2017
The number of unemployed 50 and more increased by 546 people (+ 1.6%) to 35,729. Compared to the same month of the previous year, this corresponds to a decrease of 1,065 people (-2.9%).

Job seekers in October 2017
A total of 198,025 jobseekers were registered, 4,401 more than in the previous month. Compared with the same period of the previous year, this number fell by 9,487 people (-4.6%).

Notified vacancies in October 2017
The number of vacancies reported to RAV decreased by 140 to 12,316.

Billed short-time working in August 2017
In August 2017, 1’386 people were affected by short-time work, 421 fewer (-23.3%) than in the previous month. The number of affected companies decreased by 50 units (-23.9%) to 159. The lost working hours decreased by 17’341 (-20.2%) to 68’522 hours. In the corresponding period of the previous year (August 2016), 254,128 lost hours had been registered, which had spread to 4,465 persons in 444 companies.

Deductions in August 2017
According to preliminary data from the unemployment insurance funds, the number of persons who had exhausted their right to unemployment benefit during the month of August 2017 amounted to 3,846 persons.

Switzerland, Number of Employed and Number of Job Seekers, October 2017

Switzerland, Number of Employed and Number of Job Seekers, October 2017

Source: newsd.admin.ch - Click to enlarge

 

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About SECO
SECO
State Secretariat for Economic Affairs SECO SECO is the federal government`s centre of excellence for all core issues relating to economic and labour market policy. It is our aim to contribute to sustained economic growth, high employment and fair working conditions, by creating the necessary regulatory, economic and foreign policy framework.
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