Switzerland’s low unemployment rate is the envy of many EU countries. However, in the third quarter of 2019, Switzerland underperformed the EU. Recent statistics show Switzerland’s overall rate of unemployment in the third quarter rose from 4.2% (Q3 2018) to 4.6% (Q3 2019) or 225,000 unemployed workers – these figures are based on the International […]
Swiss unemployment down in second quarter of 2019
In the second quarter of 2019, the percentage of Switzerland’s population working rose by 1.1% and the percentage unemployed fell to 4.2%, based on the higher International Labour Organisation’s (ILO) measure. In the second quarter of 2019, 5.1 million people were working in Switzerland, 60% of the population. The number working rose 1.1% compared to […]
Switzerland’s workforce participation – Swiss versus foreigners
In 2018, 68.5% of the nation’s residents aged 15 or older was working, 1.5% more than in 2010. This rise was largely driven by an increase in the percentage of women in the workforce. In 2010, 60.0% were working. By 2018, 62.9% were, a rise of 2.9%. On the other hand, the overall percentage of […]
Swiss unemployment above northern european average
Switzerland is often assumed to have low unemployment. However, there are many countries in Europe with lower rates. There are several ways to measure unemployment. The official measure in Switzerland is focused on those officially registered as unemployed still collecting unemployment benefits, a measure that delivers a lower figure than the one calculated by the […]
New initiative aims to end age discrimination on pension contributions
In Switzerland, pension rules make it more expensive to employ older workers. The amount employers must contribute to 2nd pillar contribution-based employee pensions increases with age. Workers under 35 only cost an additional 3.5% of salary. From 55, workers cost employers an additional 9% – workers aged 35 to 44 cost employers an additional 5% […]
Swiss unemployment continues to fall
The number of registered unemployed in Switzerland dropped by 9% in May 2018 to a rate of 2.4%, down from 2.7% in April, according to a report by the State Secretariat for Economic Affairs (SECO). The rate in May 2018 was 22% lower than in May 2017. Switzerland’s unemployment hasn’t been this low since 2008. […]
Unemployment benefits for reduced hours no longer justified by strong Swiss franc
In January 2015, when the Swiss National Bank stopped its attempt to keep the Swiss franc to Euro exchange rate at 1.20, the Swiss currency quickly rose beyond parity. To soften the economic shock, Switzerland’s government allowed working hours to be extended with no extra pay and working hours and pay to be cut. Employees […]
Switzerland – jobs that must soon be offered to locals first
From 1 July 2018, Swiss employers must present certain jobs to unemployed workers in Switzerland before offering them to foreigners. The requirement kicks in when unemployment for particular job types reaches 8% – this threshold will fall to 5% on 1 January 2020. Last week, the list of jobs with unemployment of 8% or more […]
Swiss unemployment at lowest in 3.5 years
Swiss unemployment is at its lowest for 3.5 years, according to the Swiss State Secretariat for Economic Affairs (SECO). The last time Swiss unemployment reached March 2018’s level was in October 2014. After reaching a peak of 3.7% in January 2017, the rate had fallen to 2.9% by March 2018. Unemployment has some seasonality however […]
Foreigners more likely to be working than Swiss
Statistics released today show that at the end of 2016 there were 5.0 million people working in Switzerland out of a population of 8.4 million, an activity rate of 58.4%, or 68.6% if those under 15 are excluded – the activity rate is the percentage of a population working full time. Of those not working […]