Swiss unemployment eases in July versus June

10.08.2020 - Davydova Maria
Swiss unemployment eases in July versus June

Switzerland’s unemployment rate eased in July from June, but figures are still up 53% year-on-year, according to the data released on Monday.

The jobless rate steadied from June at a non-seasonally adjusted 3.2%, with 148,870 people recorded as unemployed, the State Secretariat for Economic Affairs (SECO) said.

SECO also reported on the shorter working hours scheme that the government pushed in order to lessen the unemployment caused by the coronavirus pandemic. In May, 890,890 people worked shorter hours, which is 17% less from April. Meanwhile, almost 110,000 companies were adhering to the measure, down 16% from April. 

Finance Minister Ueli Maurer said last month that the Swiss government overestimated the amount of short-time work that employers would use to dampen the impact of weak demand.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.net or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?