The unemployment rate in Switzerland has risen to 3 percent, the highest level recorded since the end of 2021. However, analysts say that the recent increase can largely be attributed to seasonal factors.
Unemployment rate in Switzerland rises again in January
At the end of January 2025, 135.773 people were registered as unemployed in the regional employment centres across Switzerland, the State Secretariat for Economic Affairs (SECO) said in a press release this week. That is 5.480 more people (4,2 percent) compared to December 2024. Compared to January 2024, the number of people out of work has risen by 20 percent.
The overall unemployment rate has therefore risen by 0,2 percentage points to 3,0 percent in January 2025. The last time such a high rate of unemployment was recorded was in December 2021.
Mechanical engineering and watchmaking industries face tough times
Damien Yerly, deputy head of the labour market and unemployment insurance division at SECO, told Watson that the recent increase in the unemployment rate is largely down to seasonal factors. It is normal for unemployment to rise during the winter, when many construction sites, for instance, are closed, and hospitality and retail establishments have slower periods, causing people to lose their jobs.
The seasonally adjusted unemployment rate therefore remained the same as the previous month, at 2,7 percent.
Nonetheless, Yerly told Watson that certain sectors in Switzerland were struggling with the difficult economic situation, particularly the mechanical engineering and watchmaking industries. Unemployment figures rose fastest in the Swiss cantons - Neuchâtel, Jura and Solothurn - where these industries are primarily based.