Tag Archive: Business & Economy

Swiss Unemployment Continues to Fall in May

By the end of May 2021, the percentage of Switzerland’s workforce registered as out of work had fallen to 3.1%, down from 3.3% in April 2021. The figures are based on those registered as unemployed at regional employment centres and exclude many of those that have been out of for more than two years and have exhausted their rights to collect unemployment benefits.

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Swiss consumer sentiment nearly back to pre-crisis level

Consumer sentiment among Swiss households is improving, according to Switzerland’s economic affairs office (SECO). © Rosaria De Marco | Dreamstime.comIn April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average of -5. The primary reason for the rise in consumer sentiment is a...

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IMF praises Switzerland’s economic response to the pandemic

According to the International Monetary Fund (IMF), Switzerland has economically navigated the Covid-19 pandemic well so far. In 2020, the Swiss economy shrank by 2.9%, far less than many other advanced European economies. France (-8.2%), Germany (-4.9%), Italy (-8.9%) and the UK (-9.9%) all performed far worse.

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Switzerland’s low-income earners hit far harder despite lower Covid-19 infection rates

The economic impact of the Covid-​19 pandemic has hit low-income households far harder than those on high incomes, according to a study published by the KOF Swiss Economic Institute at ETH Zurich.

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Record fall in Swiss hotel occupancy in 2020

In 2020, the number of overnight stays in Swiss hotels fell by 40% to 23.7 million, a fall of 15.8 million nights compared to 2019. The fall, driven by Covid-19, is the largest fall in overnight stays in Switzerland since the end of the 1950s, according to Switzerland’s Federal Statistical Office.

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6 billion franc Swiss National Bank payment after new agreement

Switzerland’s Federal Department of Finance (FDF) and the Swiss National Bank (SNB), Switzerland’s central bank, have signed a new agreement on how SNB profits can be distributed.

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Swiss rents and property prices up in 2020 due to pandemic

The pandemic had a significant impact on Swiss real estate prices in 2020, according to industry experts.

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Swiss government promises one billion francs for Covid hit businesses

This week, Switzerland’s federal government decided to increase aid money to Covid hit businesses to CHF 1 billion.

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Rising numbers struggling to pay rent in Switzerland

Nearly 44% of renters surveyed said that coming up with the money pay rent is now harder than it was before Covid-19, according to ASLOCA, a renters’ association.

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