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Swiss unemployment falls in June 2020

Summary:
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.comSwitzerland’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

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Investec writes Swiss Unemployment Falls in June 2020

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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