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Swiss jobless rate falls for second month
Photo: Seco

Swiss jobless rate falls for second month

Published on: 08 May 2015 09:02 CET

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The number of people registered for jobless benefits dropped by almost 4,000 people to 141,131 as of April 30th, the State Secretariat for Economic Affairs (Seco) said in its monthly report.

The figures are further proof of the resilience of Switzerland's economy despite the strength of the franc, which economists said would hurt economic growth because of its impact on companies that depend on exports.

Of course, that impact could still be felt later in the year but for now figures suggest the jobs situation remains relatively robust.

The unemployment rate of foreigners fell to 6.4 percent from 6.7 percent while the rate for Swiss citizens remained unchanged at 2.3 percent.

However, the overall national jobless rate remained above the 3.2 percent level recorded in April 2014.

The canton of Obwalden registered the lowest jobless rate at 0.9 percent, down from one percent in the previous month, while the cantons of Geneva (5.5 percent, down from 5.6 percent) and Neuchâtel (5.5 percent, down from 5.7 percent) shared honours for the highest rates.

The level in Zurich, Switzerland’s largest job market, dipped to 3.5 percent from 3.6 percent.

For the complete report (in French, German and Italian) check here.

The Local(news@thelocal.ch)

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