Despite the effects of US tariffs and a slowing economy, Switzerland’s labor market is nevertheless strong.
The State Secretariat for Economic Affairs reports that the unemployment rate remained at 2.8% in September, unchanged from August.
However, the unemployment rate increased marginally to over 133,000, which is about 18% higher than it was a year ago.
While the unemployment rates for younger and older workers remained stable at 3.2% and 2.5%, respectively, they both rose.
According to seasonally adjusted data, the unemployment rate is 3%. According to SECO, over 3,400 persons used up all of their unemployment benefits in July, a dramatic increase of almost 40% from the month before.