Swiss unemployment rate better in June, best record since September

9 years ago - Published in Finance, Fundamental Analysis

Unemployment in Switzerland falls in the monthly comparison, but increases on an annual basis. At the end of June, unemployed persons registered with the regional employment centers (RAV) were 139.127, less 5651 than the previous month, but in 5.871 more than twelve months before.

The unemployment rate is so decreased from 3.2% in May to 3.1% in the month under review: an improvement of 0.1 percentage points, therefore, as announced this morning by the Secretariat for Economic Affairs (Seco).

Since June, the Seco calculate unemployment rates with a new method, namely on the basis of 2012-2014 period data on the active life of the population, as reported in the press. With the old method, the rate would be 3.2% in June.

In Ticino, the situation seems better than other cantons, such as Zurich and Schaffhausen, for which in the past has always been second. With the old parameters, the unemployed were 3.4% in May: in June, according to new data, the rate is 3.1%, right in line with the national one, with both monthly decline (-0 , points 1) and annual (also down 0.1 points).

Higher data than the Ticino, are registered in the cantons of Neuchâtel (5.4%), Geneva (5.3%), Vaud (4.4%), Jura (4.3%), Basel City (3.8 %), Zurich (3.5%), Schaffhausen (3.2%) and Valais (3.2%). Below the national average, unemployment is rather in the Grisons, which stood at 1.4% (-0.6 points per month, down 0.1 points per year), with 1526 people registered at employment centers.

Among young people the rate in June was 2.9% (-0.1 per month, no annual change); the unemployed aged 15-24 were 15'791. For ultra 50s workers the rate is 2.7% (-0.1 Monthly, annual 0.2). Division by nationality sees the Swiss jobless rate of 2.3%, foreigners of 5.5%. Again the new calculation method has had an impact: if in May with the old system the rate of Bulgaria and Romania exceeded 15% in June fell to 9.1% and 6.5%.

Returning to comprehensive data, in absolute terms the number of unemployed is the lowest since last September. The rate has actually returned to the October level, after hitting a high of 3.6% in January (3.8% according to the old method of calcalo) and February (3.7%).