Tag Archives: Business & Economy

The unemployment rate in Switzerland rose to 3.3% in April 2020, up from 2.9% the month before, a rise of nearly 14%. © Spacedrone808 | Dreamstime.comBy 30 April 2020, there were 153,413 people registered as unemployed at Switzerland’s regional placement offices. Young workers were the hardest hit. Unemployment among those aged 15 to 24 rose by 18.1% compared to March 2020 and by 61.3% compared to April 2019. By the end of April 2020 there were 17,191 people in this age group out of...

© Jan Gajdosik | Dreamstime.com On 29 April 2020, Switzerland’s government announced plans to allow schools and other establishments to reopen on Monday 11 May 2020. From 11 May 2020, shops, restaurants, markets, museums, libraries, primary and lower secondary schools and sports training centres will be allowed to reopen. In addition, public transport will operate according to the standard timetable, announced the government. The easing is conditional on the...

On 29 April 2020, Switzerland’s government announced plans to allow schools and other establishments to reopen on Monday 11 May 2020. © Jan Gajdosik | Dreamstime.comFrom 11 May 2020, shops, restaurants, markets, museums, libraries, primary and lower secondary schools and sports training centres will be allowed to reopen. In addition, public transport will operate according to the standard timetable, announced the government. The easing is conditional on the businesses and institutions...

A team of economic experts working for the Swiss government forecasts a 6.7% fall in GDP and unemployment to rise to 3.9% in Switzerland in 2020. © Marekusz | Dreamstime.comIf these predictions prove right, it will be the biggest slump in economic activity since 1975. The Covid-19 outbreak has forced many companies in hospitality, retail, culture and leisure to restrict or completely suspend their business activities, triggering an abrupt fall in output and private consumer spending,...

On 26 March 2020, the Swiss National Bank (SNB) announced it would lend unlimited money to banks to shore up the economy. © Swisshippo | Dreamstime.comIts COVID-19 refinancing facility (CRF), is aimed at strengthening the supply of credit to the Swiss economy by providing the banking system with additional liquidity. The SNB said there would be no upper limit on the amounts available, and drawdowns could be made by banks at any time, enabling banks to expand their lending rapidly and on...

On 16 April 2020, the Swiss government presented its plan for emerging from its coronavirus shutdown. © Viorel Dudau | Dreamstime.comOver the last few days the number of recorded new daily infections has been far below the worst days experienced since the outbreak began. In March 2020, daily new cases regularly exceed 1,000, occasionally exceeding 1,300. Over the last two days they have been around 400, a figure that varies depending on how data collection delays are handled. Slow down...

On 8 April 2020, Switzerland’s government decided to extend the country’s lockdown measures for a further week. © Sorin Colac | Dreamstime.comIn a press release the Federal Council said the measures would be extended for another week and then possibly progressively loosened before the end of April. The measures have proved to be effective with the spread of the virus clearly reducing over recent days, said the statement. However, given the evolution of the spread and scientific...

Tourism is one of the sectors hardest hit by the coronavirus and the response to it. © Erfphotog | Dreamstime.comFigures from a study by HES-SO Valais published by the newspaper Blick suggest the industry will see revenues in Switzerland drop 18%, or CHF 6.4 billion, in 2020. The hotel sector alone, which generates around CHF 10 billion annually, could lose CHF 2 billion if the shutdown lasts until the end of May, according to the forecast. The cancelation of events in Geneva,...

Coop and Migros, Switzerland’s two largest supermarkets have decided to limit the number of people entering their stores, creating queues outside, according to RTS. To reduce the spread of Covid-19, shopper density has been reduced to one person per 10 m2, which drastically reduces the number of people allowed inside simultaneously. In addition, shopping in the two chains has been restricted to the food section. Other areas have been closed. On top of the hassle of needing to queue,...

In response to the increased spread of the novel Coronavirus Switzerland’s health authority has issued new hygiene advice, which includes avoiding hand shakes. © Rido | Dreamstime.comThis additional measure was added recently along with two others: dispose of used paper tissues in a sealed waste bin and always call ahead before going to the doctor’s or the emergency department. The government campaign ‘Protect yourself and others’ tells you how you can apply basic hygiene rules and...