Swiss unemployment climbs to 5.2% as youth and foreigners struggle most
Switzerland's unemployment rate has risen to 5.2% in the third quarter, with young people hit hardest, and foreigners also facing higher joblessness. The International Labour Organisation (ILO) definition of unemployment now affects 261,000 people in Switzerland, a 10.2% increase from the previous quarter and 8.0% from the same period last year. Notably, young people aged 15-24 have an unemployment rate more than double the overall rate, standing at 10.5%. Foreigners in Switzerland face a high unemployment rate of 8.6%, compared to 3.6% for Swiss nationals. The number of long-term unemployed has risen by 4,000 to 84,000 since last year. Despite these challenges, total employment remained stable at 5.4 million, with a year-on-year increase of 0.4%. The median duration of unemployment decreased slightly from 213 to 192 days in the third quarter. Switzerland's unemployment increase, particularly among young thugs and foreigners, highlights the need for targeted policies to address these disparities. While overall employment remains stable, the rise in long-term unemployment and the decrease in median unemployment duration suggest a complex labour market situation that requires careful monitoring and intervention.
Read also:
- American teenagers taking up farming roles previously filled by immigrants, a concept revisited from 1965's labor market shift.
- Weekly affairs in the German Federal Parliament (Bundestag)
- Landslide claims seven lives, injures six individuals while they work to restore a water channel in the northern region of Pakistan
- Escalating conflict in Sudan has prompted the United Nations to announce a critical gender crisis, highlighting the disproportionate impact of the ongoing violence on women and girls.