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Switzerland Unemployment in October 2020: remained at 3.2percent, seasonally adjusted fallen to 3.3percent

 

Unemployment Rate (not seasonally adjusted)

Registered unemployment in October 2020 – According to surveys by the State Secretariat for Economic Affairs (SECO), 149,118 unemployed people were registered with the regional employment centers (RAV) at the end of October 2020, 558 more than in the previous month. The unemployment rate remained at 3.2% in the month under review. Compared to the same month last year, unemployment increased by 47,434 people (+ 46.6%).

Switzerland Unemployment Rate n.s.a., October 2020

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Switzerland Unemployment Rate n.s.a., October 2020

Source: investing.com - Click to enlarge

Seasonally adjusted Unemployment Rate

The seasonally adjusted unemployment rate is fallen to 3.3%.

Switzerland Unemployment Rate s.a., October 2020

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Switzerland Unemployment Rate s.a., October 2020

Source: investing.com - Click to enlarge

Number of unemployed and Job seekers

Youth unemployment in October 2020

Youth unemployment (15 to 24 year olds) fell by 1,508 people (-7.9%) to 17,562. Compared to the same month last year, this corresponds to an increase of 5,570 people (+ 46.4%).

Unemployed 50-64 years in October 2020

The number of unemployed 50-64 years increased by 1,015 people (+ 2.5%) to 40,891. Compared to the same month last year, this corresponds to an increase of 12,482 people (+ 43.9%).

Job seekers in October 2020

A total of 241,460 job seekers were registered, 3,315 more than in the previous month. Compared to the same period in the previous year, this number increased by 64,965 people (+ 36.8%).

Registered vacancies in October 2020

On July 1, 2018, the job registration requirement for occupations with an unemployment rate of at least 8% was introduced throughout Switzerland, and a new threshold of 5% has been in effect since January 1, 2020. The number of vacancies reported to the RAV decreased by 4,054 to 30,671 positions in October. Of the 30,671 positions, 17,711 positions were subject to mandatory reporting.

Billed short-time work in August 2020

In August 2020, 304,400 people were affected by short-time working, 43,238 fewer (-12.4%) than in the previous month. The number of businesses affected decreased by 4,286 units (-11.0%) to 34,785. The number of hours lost fell by 4,235,939 (-20.8%) to 16,168,011 hours. In the corresponding period of the previous year (August 2019), 50,802 hours lost were registered, which were distributed among 964 people in 72 companies.

Levels in August 2020

According to preliminary information from the unemployment insurance funds, the number of people who had exhausted their right to unemployment benefits in the course of August 2020 was 491. During the period of validity of the COVID-19 regulation of unemployment insurance, all eligible persons can receive a maximum of 120 additional daily allowances.

Switzerland, Number of Employed and Number of Job Seekers, October 2020

Switzerland, Number of Employed and Number of Job Seekers, October 2020

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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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