Switzerland Jobless Rate Up To 11-Month High Of 3.7%


Swiss unadjusted unemployment rate increased to 3.7 percent in January of 2017, compared to a 3.5 percent in December while market expected 3.6 percent. It was the highest jobless rate since February 2016, as the number of unemployed and jobseekers went up.

In January, there were 164,446 unemployed persons enrolled at the regional employment centers, about 5,094 more persons than in the previous month. Compared to the same month a year earlier, unemployment increased by 822 persons (+0.1 percent). 

The number of jobseekers reached 226,861, an increase of 3,448 persons compared with December while it increased by 4.110 compared with the same period last year. 

Youth unemployment (15 to 24 year old) increased by 566 persons to 19,782. Compared with January 2016, this represents a decrease of 1,398 people (-0.2 percent). 

Adjusted for seasonal factors, the unemployment rate stood at 3.3 percent, unchanged from the prior four months. 

Seco l Rida Husna | rida@tradingeconomics.com
2/9/2017 7:28:40 AM