Labor market Unemployment rate remains at 2.3 percent in June

Unemployment in Switzerland remained stable in June compared to May. The unemployment rate remained at 2.3 percent and, adjusted for seasonal effects, was also unchanged at 2.4 percent.

At the end of June, 104,518 people were registered as unemployed in the regional employment centers (RAV), as reported by the State Secretariat for Economic Affairs (Seco) on Thursday. This was 947 fewer than in May.

Compared to the previous year, however, this is an increase of almost 20,000 unemployed people. In June 2023, the rate was still at a very low 1.9 percent.

Youth unemployment among 15 to 24-year-olds increased slightly last month compared to May, rising by 24 to 8948 people, while the number of unemployed people aged 50 to 64 decreased by 321 to 29,565, according to the press release.

Fewer job seekers

In June, fewer people in Switzerland were looking for a job at the employment offices. A total of 174,964 jobseekers were registered there, which corresponds to a decrease of 1,458 compared to the previous month. Compared to the previous year, however, this figure increased by 24,346 people.

On the other hand, fewer vacancies were registered with the RAV. This figure in the statistics fell by 513 to 39,592. According to Seco, 19,490 of these jobs were subject to the reporting requirement, which applies to occupations with an unemployment rate of at least 5 percent.

Seco recorded a decline in short-time work, for which the April figures are only available. The number of people affected by short-time work fell by 1920 compared to March to 3766. The number of companies affected fell by 68 units or a quarter to 198.