by On 8 July 2021, the Secretariat for Economic Affairs (SECO) published unemployment figures for June 2021. © Fizkes | Dreamstime.com By the end of June 2021, there were close to 132,000 people registered as unemployed across Switzerland, 11,000 fewer than at the end of May 2021, bringing Switzerland’s overall unemployment rate down from 3.1% to 2.8%. Youth employment dropped particularly sharply compared to a year earlier. Unemployment among this age group (15-24) was down 32% year on year. By contrast, among those aged 50-64 year-on-year unemployment was up by 1.9%. By the end of June 2021, only 28 people had exhausted their 2-year unemployment insurance payments, which were extended for 66 days in response to the pandemic. The SECO figures are based on people
Topics:
Investec considers the following as important: 3) Swiss Markets and News, 3.) Investec, Featured, newsletter
This could be interesting, too:
Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression
Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism
Douglas French writes Millennials: In Costco We Trust
Vasil Georgiev writes Luftfahrtindustrie: Rückblick auf 2023 und Prognose für 2024
On 8 July 2021, the Secretariat for Economic Affairs (SECO) published unemployment figures for June 2021.
© Fizkes | Dreamstime.com
By the end of June 2021, there were close to 132,000 people registered as unemployed across Switzerland, 11,000 fewer than at the end of May 2021, bringing Switzerland’s overall unemployment rate down from 3.1% to 2.8%.
Youth employment dropped particularly sharply compared to a year earlier. Unemployment among this age group (15-24) was down 32% year on year. By contrast, among those aged 50-64 year-on-year unemployment was up by 1.9%.
By the end of June 2021, only 28 people had exhausted their 2-year unemployment insurance payments, which were extended for 66 days in response to the pandemic.
The SECO figures are based on people registered as unemployed at regional employment centres and exclude those that have been out of work for more than two years, exhausting their rights to collect unemployment benefits. Most measures of unemployment, such as the one recommended by the International Labour Organisation (ILO), typically include this group.
You Might Also Like
SNB Sight Deposits: Inflation Fear Decreasing, SNB Selling Euros
2021-07-05
Sight Deposits have fallen: The change is -0.5 bn. compared to last week, this means the SNB is selling euros and dollars.
Basel to become the fifth canton with a minimum wage
2021-06-17
Over the weekend, a majority of voters in the canton of Basel-City voted in favour of a minimum wage of CHF 21 (US$ 23) an hour. The move will make Basel-City the first German-speaking Swiss canton to adopt a minimum wage, following in the footsteps of Geneva, Neuchâtel, Jura and Ticino.
Nearly two thirds of Swiss support EU framework agreement, suggests poll
2021-05-15
Switzerland and the EU have been working at failing to agree on a new agreement on Switzerland’s relationship with the EU for sometime now. One point of negotiating leverage used by Switzerland is that Swiss voters would reject the deal proposed by the EU in a referendum. However, a recent poll suggests that might not be true.
Real Swiss salaries up most in 5 years
2021-05-02
On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019.
© Suwat Supachavinswad | Dreamstime.comIn 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose this much was in 2015 when the real increase was 1.5%.
In both 2015 and 2020 negative inflation of -1.1% and -0.7% significantly boosted nominal increases of +0.4% and +0.8%.
In 2020, the jump in salaries was not uniform across all sectors. In some areas the real salary increase in 2020 was as high as 3.4% (information technology). At the other end, average real salaries in insurance sank by 1.4%. Other sectors with above
Minimum wage hurting young people in Swiss canton
2021-04-16
Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS.
Farming lobby hurting Swiss chocolate sector, says industry association
2021-03-14
Swiss chocolate sales went into steep decline in 2020, according to ChocoSuisse, Switzerland’s chocolate industry association. The amount of chocolate produced in Switzerland in 2020 was 10% lower than in 2019 and sales revenue was down by 14.5%, a sharp drop.
Swiss parliament demands cabinet reopen restaurants and theatres
2021-03-06
A recent parliamentary vote on whether to issue a formal request to the Federal Council, Switzerland’s executive, to reopen restaurants on 22 March 2021, found a majority of 97 to 90, according to Le Matin.
Vaccine delays costing Switzerland up to 100 million francs a day
2021-02-06
A recent study by Swiss National COVID-19 Science Task Force calculates that vaccination delays are reducing Switzerland’s national output (GDP) by between CHF 50 – 100 million per day, according to RTS.
Tags: Featured,newsletter