Unemployment rate falls in Switzerland amid COVID-19 recovery
The unemployment rate in Switzerland has fallen throughout 2021, as the country reopens after the COVID-19 pandemic. The new figures show that the rate of unemployment has declined the most among young people, but the number of people looking for work dropped across the board.
Unemployment rate reduced in Switzerland after jobs boom
Unemployment fell from 2,7 to 2,6 percent in the month of September alone. According to the State Secretariat for Economic Affairs, 200.000 people were looking for a job in Switzerland, and have registered for unemployment insurance. As of June 2021, there are now more than 158.000 vacancies across the country.
The rate of unemployment fell significantly among people aged 15 to 24. The report found that the number of young people seeking employment fell by 9 percent over the past 10 months to just 12.553 people. This corresponds to a 34 percent drop on the level it was in September 2020.
Large regional differences in unemployment in Switzerland
Le News reported that the study shone a light on the variation in employment rates in different cantons, with the unemployment rate in Geneva being double the national average. Other regions with significantly higher rates of unemployment were Jura, Vaud, Basel Stadt and Neuchatel.
Le News commented that Geneva has “long struggled with high unemployment," particularly among young people and expats. The city often has a higher jobless rate than the average in the EU, with people working in the city seeing fewer opportunities than in other parts of the country. The canton with the lowest unemployment rate was Appenzell Innerrhoden, with only 0,5 percent of the population seeking employment.