by © Mcherevan | Dreamstime.com Unemployment fell from 2.7% to 2.6% in September 2021 in Switzerland, with a sharp drop among those aged 15 to 24, reported RTS. By the end of September 2021, just over 200,000 people were looking for employment in Switzerland according to Switzerland’s standard measure, which is focused on those registered with ...
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Unemployment fell from 2.7% to 2.6% in September 2021 in Switzerland, with a sharp drop among those aged 15 to 24, reported RTS.
By the end of September 2021, just over 200,000 people were looking for employment in Switzerland according to Switzerland’s standard measure, which is focused on those registered with the official unemployment office, something required to collect unemployment benefits. However, it means some who run out the 2 year unemployment benefit period slip off the unemployment radar.
The rate among those aged 15 to 24 fell more that the average from 2.6% to 2.4%. The number in this age group seeking a job fell 9% to 12,553, a level 34% below where it was at the same time last year when the unemployment rate among this group was 3.6%.
Among those aged 50 to 64 the rate dropped from 2.8% to 2.7% over the month. The number searching for work in this age group was down 8% compared to the same time last year, a far smaller drop that the 34% recorded among those aged 15 to 25.
The same regional unemployment differences remained. The overall unemployment rate was 4.8% in Geneva, more than double the national average of 2.6%. The canton with the lowest rate was Appenzell Innerrhoden (0.5%). Other regions with high rates include Jura, Vaud, Basel-City and Neuchâtel. The lowest rates were clustered mainly in central Switzerland.
Geneva has long struggled with high unemployment, which is particularly high among young people and foreigners. At the end of 2020, 7.3% of those aged 15-24 and 8.5% of foreigners in the canton were looking for work. The overall rate in the canton exceeded the average rate across the EU – these percentages are based on the International Labour Organisation definition of unemployment, which is higher than the standard Swiss measure.
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© Rosaria De Marco | Dreamstime.comIn April 2021, the consumer sentiment index climbed back to -7 points after reaching a low of -40 in early 2020. The level of -7 is close to the pre-crisis level of early 2020 and close to its long term average of -5.
The primary reason for the rise in consumer sentiment is a significant improvement in expectations regarding general economic development. This sub-index climbed from -18 points in January to +3 in April, the highest value recorded since autumn 2018, indicating that consumers are expecting the economic recovery to continue over the coming twelve months.
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Tags: Business & Economy,Editor's Choice,Featured,newsletter,Personal finance,Unemployment Switzerland