(16.10.2024) The Swiss labor market is tightening. In September 2024, the number of unemployed people rose to 113,245, an increase of 22,419 compared to the same period in 2023 (+24.7%). During the same period, the unemployment rate edged up by 0.1 percentage points to reach 2.5%, according to the State Secretariat for Economic Affairs (SECO).
Among young people (aged 15-24), the unemployment rate held steady at around 2.7% in September, representing a total of 11,957 unemployed (+22.3% year-on-year). A similar trend was observed among older workers (aged 50-64), where the unemployment rate reached 2.2% (30,798 unemployed, up 21.5% year-on-year).
The number of job seekers in September 2024 climbed to 184,373, an increase of 4,137 people (+2.3%) from the previous month. Compared to September 2023, this number rose by 30,838 individuals, marking a 20.1% increase.
SECO also reported that 2,454 people had exhausted their unemployment benefits by July 2024, an increase of 172 people or 7.5% compared to the previous month.
Regional Employment Offices (ORP) registered 38,320 job vacancies in September 2024, an increase of 2,074 positions (+5.7%) from August. Of these, 18,693 vacancies (48.8%) were subject to mandatory listing requirements. However, a sharp decline in the number of reported job vacancies was noted, with a drop of 8,871 positions (-18.8%) between September 2023 and September 2024.
The number of employees on reduced working hours fell significantly between June and July 2024. Only 2,566 people were affected by this measure in July, a decrease of 59% compared to the previous month. Additionally, the number of companies implementing reduced hours dropped to 198, a reduction of 37.9% from the previous month.
Last modification 15.10.2024
