Due to construction and catering: Unemployment rate increased in December

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Unemployment in Switzerland increased slightly in December. But it’s still low. The year’s average was at its lowest level since 2001.

As of the end of December, 106,859 people were registered as unemployed in regional employment centers (RAV). According to the statement made by the State Secretariat for Economic Affairs (Seco) on Tuesday, this rate was 2.3 percent in the last month of the year, after 2.1 percent in November.

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More unemployed than in December 2022

Compared to December 2022, the number of unemployed increased by 9,918. This was 10.2 percent higher than the previous year.

The unemployment rate is often subject to seasonal fluctuations because there are fewer jobs in construction, agriculture and the food and beverage industry during the winter months. The unemployment rate, adjusted by Seco for seasonal factors, rose to 2.2 percent in December 2023, after 2.1 percent in the previous month.

Normalization has occurred

According to Seco, the positive development in the labor market continued at the beginning of the year before gradual normalization began in March. However, there has been a long-term low throughout the year.

Seco said the average unemployment rate in 2023 is 2.0 percent. This is 0.2 points less than the previous year. A lower unemployment rate was last reported in 2001, at 1.7 percent.

In absolute numbers, an average of 93,536 people were recorded as unemployed last year. This is 6.1 percent less than the previous year.

The shortage of skilled workers remains a significant problem for many industries. Despite this, hundreds of thousands of workers are looking for work in the country. (SDA/smt)

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.