Unemployment in Switzerland drops to 2.7 percent

The unemployment rate in Switzerland stands on the way to a new low. The current economic concerns can affect the labour market nothing: While the warnings of a slowdown in the economy will be louder, continues the upturn in the labour market continues unabated.

The unemployment rate fell in February to 2.7 percent from 2.8 percent in January, as on Thursday, according to Figures released by the state Secretariat for economic Affairs (Seco). So, 3.6 per cent fewer people unemployed than in January and 17 percent less than a year ago.

Seasonal and cyclical drivers

on one hand This is due to the recovery in transactions in the construction and in the hospitality industry: "The seasonal turnaround has set in," said Boris Zürcher, head of the Directorate for jobs in the Seco, in a conference call.

But it is also more than that: The economic effect is similarly strong as in previous months, said Zürcher. Even without the help of the seasonal effects, unemployment would have declined compared with January 1 percentage. "The momentum continues here, surprisingly, contrary to the economic pessimism."

labor market remains on course

Key economic indicators suggest that the economy has passed the peak of their cycle already. In 2018, it was grown with a brisk pace of 2.5 percent.

This Rate is likely to be, according to experts, this year will not hold. Mainly due to the international slowdown in growth. Only yesterday, Wednesday, the industrialized countries organization OECD has lowered its growth forecast for Europe and Germany dramatically. Germany is the largest individual trading partner of Switzerland.

Nevertheless, the indicators support the picture of the more attractive labour market usually reacts with a delay to economic development. The Seco expects, according to its forecast from December that the unemployment rate for 2019 continues to fall to 2.4 percent from 2.6 percent. So deep, the rate was the turn of the Millennium. Already in 2018, the rate had fallen to a ten year low.

calculations

This should leave Switzerland at first glance, their European neighbours green with envy. However, the Seco-quota does not work with the international Numbers to compare, it is charged, however, quite different. For the international comparison, the Swiss Federal statistical office (FSO) collected employment rate is better.

According to the ILO standards, however, each Person is counted as unemployed, which is permanently resident in Switzerland, has no work, in search of a job and in the short term, such a body could take. Seco expects, however, only those unemployed who are registered at a Regional employment centre (RAV).

The unemployment rate is usually slightly higher than the unemployment rate, currently at 4.6 percent. The development of unemployment, however, the Seco-rate easy to read - and this is very pleasing.

Clear Plus in the case of Vacancies

On good prospects for job seekers also suggests the development of the Vacancies: In February, the number of the RAV notified Vacancies increased by about 16 percent compared with January to 36'766, of which 23'066 mandatory reporting documents.

Since 1. July 2018, there is known the set of mandatory reporting for professional types, with an unemployment rate of at least 8 percent. Since its introduction of mandatory reporting has increased, the number of Vacancies. Compared to February a year ago, the number nearly tripled. (Dec/sda)

Created: 07.03.2019, 08:01 PM