by The number unemployed in Switzerland at 30 June 2020, fell 5,709 in June to 159,289, according to the State Secretariat for the Economy (SECO). © Wutthichai Luemuang | Dreamstime.com Switzerland’s unemployment rate fell from 3.4% to 3.2%. However, despite improving on May 2020, the number unemployed was 53,067 (+54.6%) higher than at the end of June 2019. Switzerland’s official unemployment figures however include only those registered as unemployed, a lower percentage that excludes those who are available and seeking work but no longer registered. Much of the motivation to register with the unemployment office in Switzerland disappears once an individual has reached the end of their unemployment insurance. Despite falling unemployment, the number looking for work
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Investec considers the following as important: 3) Swiss Markets and News, 3.) Personal Finance, Business & Economy, Business & Economy, Editor's Choice, Featured, newsletter, Personal finance, Swiss unemployment June 2020
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The number unemployed in Switzerland at 30 June 2020, fell 5,709 in June to 159,289, according to the State Secretariat for the Economy (SECO).
© Wutthichai Luemuang | Dreamstime.com
Switzerland’s unemployment rate fell from 3.4% to 3.2%. However, despite improving on May 2020, the number unemployed was 53,067 (+54.6%) higher than at the end of June 2019.
Switzerland’s official unemployment figures however include only those registered as unemployed, a lower percentage that excludes those who are available and seeking work but no longer registered. Much of the motivation to register with the unemployment office in Switzerland disappears once an individual has reached the end of their unemployment insurance.
Despite falling unemployment, the number looking for work rose by 472 during the month to 233,454 people, a figure 36.7% higher than at the end of June 2019.
In April 2020, 1,077,041 people, 294,605 more (+37,7%) than the month before, were partially unemployed. 90 million hours of work were lost during the months. The same figure for April 2019 was 44 thousand hours.
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A Swiss parliamentary commission, tasked with looking at the introduction of an environmental tax on flights departing from Switzerland, recently voted in favour a such a tax. A majority of 17 to 8 members voted in favour of the move. The tax would range from CHF 30 to CHF 120 per passenger depending on flight distance and class.
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In 2018, the percentage of the population in Switzerland living below the poverty line fell from 8.2% (2017) to 7.9%, returning to the same level as it was in 2010. Most affected by poverty were those aged under 18 (9.6%) and those aged over 64 (13.7%).
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Potential relief for some Swiss renters
Every three months the rate of interest used to benchmark Swiss rents is reviewed. If it goes down some renters have the right to request a decrease in rent. This time the reference rate fell from 1.50% to 1.25%.
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Swiss parliament votes in favour of flight tax
A majority of Switzerland’s parliament voted in favour of introducing a tax on flights departing from Switzerland. 132 voted in favour of the tax, with 65 against. The tax would range from CHF 30 to CHF 120 depending on the distance and class of travel, according to 20 Minutes.
Tags: Business & Economy,Editor's Choice,Featured,newsletter,Personal finance,Swiss unemployment June 2020