Swiss job market shows first signs of Covid-19 pandemic
The empty high street in the Swiss tourist destination of Gruyères on March 27
Keystone
The Swiss labour market in March felt the first effects of coronavirus. The State Secretariat for Economic Affairs (SECO) put the unemployment rate at 2.9%, up from 2.5% in February.
Adjusted for seasonal factors, the rate was 2.8%, SECO said on TuesdayExternal link. Economists interviewed by news agency AWP had expected such figures.
At the end of March a total of 135,624 people were registered as unemployed with regional employment centres. This was 17,802 more than in the previous month.
The latest figures on short-time working had also been eagerly awaited, but currently only the data for January are available. According to SECO, 3,717 people were affected in January, an increase of 13% over the previous month of December.
The number of companies affected was 178, some 26 more than in December. The number of working hours lost is reported at 189,157 – 34,622 (22.4%) more than in December.
Meanwhile, at the end of March the head of the SECO labour unit, Boris Zürcher, said applications for short-time work were rocketing: 570,000 applications from 42,000 companies. This corresponds to about 11% of the workforce. Just one day later Economics Minister Guy Parmelin put the figures at 51,000 companies and around 656,000 employees.
“I believe unemployment will clearly increase,” Zürcher said. “The longer this situation lasts, the harder it is to get out. If it continues like this for another three or four months, it will also affect solvent companies.”
The unemployment rate among foreigners rose in March to 5.2% (up from 4.6%) and among Swiss nationals to 2.1% (1.8%).
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.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Swiss committee wants to end government resignations during legislative term
This content was published on
Members of the Federal Council should no longer be able to leave office before the end of their term, according to a House of Representatives committee.
Swiss government seat: Ritter and Pfister nominated to succeed Amherd
This content was published on
Markus Ritter from St Gallen and Martin Pfister from Zug were officially nominated by the Centre Party on Friday to succeed Defence Minister Viola Amherd.
Top Swiss court rejects Russian request for administrative tax assistance
This content was published on
There is currently no reason to transmit banking information to the Russian Federation, the Swiss Federal Court has ruled.
After strike by radiologists, doctors demonstrate in Bern
This content was published on
Following a strike by radiology technicians in Fribourg, doctors, vets, dentists and chiropractors expressed their frustration on Friday outside parliament in the Swiss capital.
Eurovision and bleak world situation are top themes at Basel carnival
This content was published on
The Eurovision Song Contest and the gloomy global situation are among the main themes of Basel Fasnacht (carnival) this year.
Prices of Swiss investment properties continue to rise despite stagnating rents
This content was published on
Although rents in Switzerland stagnated or fell in the final quarter of last year, prices for investment properties continued to rise. Both apartment buildings and office properties have become more expensive.
Probe into wrong Swiss pension figures clears federal office
This content was published on
Employees of the Swiss Federal Social Insurance Office (FSIO) did not breach their duty of care when calculating pension prospects, an investigation has concluded.
This content was published on
Hotels in the southern Swiss canton of Ticino welcomed significantly more guests last December than in the same month of the previous year.
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
Pandemic pushes more Swiss businesses to short-time working
This content was published on
In order to avoid mass lay-offs, Swiss firms are resorting to a measure that has proved its worth in times of crisis: short-time working. What is it?
This content was published on
The government should boost its efforts to help businesses tackle the coronavirus crisis, says the director of the KOF Swiss Economic Institute.
Recession is unavoidable, reckon Swiss finance bosses
This content was published on
The coronavirus pandemic has fundamentally changed the economic outlook for Switzerland, with Swiss CFOs more pessimistic than ever before.
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.