Despite inflation, war and recession fears, the Swiss labor market is showing its best side: Unemployment is at a 20-year low! For 2022 as a whole, the State Secretariat of Economic Affairs (Seco) put the unemployment rate at an average of 2.2 percent. This is 0.8 percentage points less than the previous year.
In absolute figures, 99,577 people were registered as unemployed last year, which was 38,037 fewer than the previous year (-27.6%).
According to Seco, this is the lowest unemployment rate in more than 20 years. According to the information obtained, a lower unemployment rate of 1.7 percent was last reported in 2001.
20 percent less unemployed every year
Along with figures for the full year, Seco also released December unemployment statistics: At the end of December, 96,941 people were registered as unemployed at regional employment centers (RAV). The rate, which was 2.0 percent in November, became 2.1 percent in the last month of the year.
The unemployment rate is often subject to seasonal fluctuations, as there are fewer jobs in the winter months, for example in the construction, agriculture and gastronomy sectors. The unemployment rate, adjusted for seasonal factors by Seco, even dropped to 1.9 percent in December 2022, after 2.0 percent the previous month.
Compared to December 2021, the number of unemployed was 24,787 lower. It was 20.4 percent lower.
Companies are short of staff
Record-low unemployment is a blessing for workers but a curse for companies. According to Seco, labor market development in 2022 is “characterized increasingly by labor supply shortages”. Companies are facing a shortage of personnel.
The drying up of the job market in Switzerland can be seen from the job search data. That number was 96,941 in December, up 6.1 percent from November, according to Seco. But a year ago, another 24,787 people were looking for work.
The number of jobs reported to RAV fell 7,973 to 48,473 in the month under review. According to the information obtained, 36,706 of the workplaces reported to be open were subject to the registration requirement for occupations with an unemployment rate of at least 5 percent. These occupations include the hotel and catering industry or construction to name a few. The list is updated for each new year.
Short-term work in seclusion
The short-time working tool no longer plays any role in the Swiss labor market. In October – data are reported with a lag – only 1,894 people were still in short-term employment. The number of short-time workers increased by 24.2 percent compared to September and reached 369 people. However, the number of companies affected by the short-run decreased by six to 175 companies.
But the number of employees doing short-time work is likely to rise again in the new year: ski areas at lower altitudes have recently submitted requests to be able to apply for short-time work due to the lack of snowfall. (SDA/sfa)