Unemployment rises in Switzerland
Unemployment in Switzerland increased last year after falling to a very low level in 2023. In December alone, the rise in the unemployment rate continued, primarily due to seasonal factors.
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At the end of December, 130,293 people were registered as unemployed with the regional employment centres (RAV) across Switzerland, the State Secretariat for Economic Affairs (SECO) said on Friday. This was 9,179 or 7.6% more than in November. Compared to the previous year, the number of unemployed climbed by 23,434 or 22%.
The unemployment rate rose to 2.8% from 2.6% in November. The rate usually rises in the winter months, as construction sites, for example, come to a standstill. Adjusted for seasonal factors, the rate remained at 2.6%. A year earlier, in December 2023, the rate was 2.3% and 2.2% after adjustment.
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Higher annual average figures
Unemployment rose steadily during 2024 after previously very low levels. According to SECO, the average unemployment rate for the year as a whole was 2.4%. This is 0.4 percentage points higher than in the previous year. At 2.0%, this figure had reached its lowest level since 2001 (1.7%).
In absolute figures, an average of 112,563 people were registered as unemployed last year. This is 15% more than in the previous year. The trend of slightly rising unemployment figures observed since mid-2023 thus continued in 2024, SECO wrote.
Translated from German by DeepL/ts
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