Positive labour market situation in Switzerland despite gloomy manufacturing outlook
There were more job seekers but fewer vacancies in Switzerland in October compared to September.
Keystone / Gaetan Bally
Employment prospects in Switzerland will remain good in the coming months, according to the KOF economic research center. There are only signs of a decline in employment in the manufacturing sector.
This content was published on
2 minutes
Keystone-SDA
Español
es
Situación positiva del mercado laboral suizo pese a las sombrías perspectivas del sector manufacturero
The employment indicator calculated by the ETH economic research center KOF fell for the third time in a row in the fourth quarter, but remains clearly in positive territory, announced the KOF on Monday. For the fourth quarter of 2023 it is still at 7.7 points, after the slightly downward revision from 9.2 points in the previous quarter.
The KOF economists emphasise that it is still significantly above the long-term average of “close to zero” and also higher than before the Covid-19 pandemic. Since its peak in the second quarter of 2022, it has more than halved.
The KOF employment indicator is calculated from KOF’s quarterly economic surveys. According to the announcement, the evaluations for the fourth quarter are based on the answers from around 4,500 companies that were surveyed in October about their employment plans and expectations.
Stable unemployment
On Tuesday, the State Secretariat for Economic Affairs (Seco) also put out employment figures for October. Although the number of people registered as unemployed rose last month, the unemployment rate stayed at 2%.
Job search data also showed that there were 160,373 job seekers. That was 6,838 more people than in the previous month, but only 279 more than a year ago. The number of vacancies reported to the regional employment offices (RAV) fell by 1,292 to 45,899
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Swiss Abroad
Aussie adoptee gains Swiss citizenship at 54 thanks to old envelope
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
This content was published on
Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
This content was published on
The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
This content was published on
Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
This content was published on
In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
This content was published on
The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
This content was published on
Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
This content was published on
Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Swiss unemployment rate drops below 2%
This content was published on
The number of people receiving unemployment benefit in Switzerland fell again in May, with the jobless rate settling below the 2% mark.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.