The unemployment rate continued to fall in May

The labor market situation continues to improve in Switzerland. The unemployment rate fell to 2.1% in May from 2.3% in April. It thus regains the values ​​of September 2019.

At the end of May, 98,004 people were registered with the Regional Employment Offices (ORPs), 6387 less than the previous month, according to the Secretary of State for the Economy (SECO). Over one year, unemployment fell by 44,962 people (-31.4%).

Youth unemployment fell by 5.2%, affecting 8090 people. In one year, it has fallen by almost 37%. For the 50-64 age group, it has dropped by almost 6% to 30,991 people. Compared to May 2021, this corresponds to a decrease of 11,968 people (-27.9%).

The unemployment rate fell by 7.4% for men, with 4228 unemployed resuming employment, compared to 2159 unemployed, a decrease of 4.6% for women.

Also read: Preserve the purchasing power of the Swiss

Particularly marked decline in Valais

The increase in activity was stronger in German-speaking Switzerland, where the number of unemployed fell by 6.4%, than in French-speaking Switzerland and in Ticino, where the decline was slightly less marked. 5.7%.

By canton, the decline in unemployment was particularly marked in Valais, where the rate fell by 11%, corresponding to 456 jobs. Geneva is still the canton with the highest unemployment rate in Switzerland, at 3.9%, compared to 4.1% in April. In contrast, Appenzell Rhodes Township has an unemployment rate of 0.4%.

The total number of registered jobseekers was 175,456, 7764 fewer than in April and 61,911 (-26.1%) less than in May of the previous year.

The reduction in working hours, the last count of which dates back to March, affected 22,067 people, 55.5% less than the previous month. In all, 3,500 companies used it (-47%), while the number of hours lost was halved to 1.18 million. As of March 2021, partial unemployment had hit 44,593 companies, affecting 3,40,953 people and leading to the loss of 27.1 million hours of work.

Last March, 2,747 people exhausted their rights to unemployment insurance benefits.

Find the main economic indicators in our interactive dashboard.

In a statement, the Swiss Trade Union Union (USS) hailed the falling unemployment rate, noting that for the first time since the autumn of 2019, fewer than 100,000 people “have to point and look for work”.

If this figure reflects the “good economic situation”, people aged 60 to 64 have not yet benefited. This age group has the highest unemployment rate. Regional Employment Offices (ORPs) need to step up their efforts to integrate these people, knowing that there are many open positions.

Read more: Guy Parmelin, “tactical ally” of the unions

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