- The Swiss labor market is still in very good shape.
- The number of unemployed fell in May and the unemployment rate fell below the two percent mark as a result.
At the end of May, 88,076 people were registered as unemployed at the regional employment centers (RAV), 2,458 fewer than in the previous month. Compared to the same month last year, unemployment even fell by 9,928 people.
The unemployment rate fell to 1.9 from 2.0 percent in the previous month, as reported by the State Secretariat for Economic Affairs (Seco).
The rate is therefore still at a very low level. A lower value for the month of May was last measured in 2001 at 1.5 percent.
Adjusted rate increases slightly
As early as last autumn, the rate was 1.9 percent in individual months, but then rose to up to 2.2 percent in winter due to the seasonal effects. In the winter months there is less work in construction, agriculture and gastronomy, which is usually reflected in the quota.
The number of unemployed for the month of May 2023, adjusted by Seco for seasonal factors, now increased slightly and the corresponding unemployment rate rose slightly from 1.9 to 2.0 percent.
Fewer job seekers
The data on job searches also shows how dried up the job market in Switzerland is: In May 2023, with 153,468 registered job seekers, according to Seco, there were 2,568 fewer than in April. In a year-on-year comparison, 21,988 fewer people were looking for a job.
At the same time, however, fewer jobs are registered with the RAV. In May, 51,807 jobs were still reported as open. That is 416 fewer than in April. Of these vacancies, 32,897 were subject to the job registration requirement. This applies to occupations with an unemployment rate of at least five percent.
The instrument of short-time work hardly plays a role in the Swiss labor market anymore. In March – the data is reported with a delay – only a good 1,000 people were on short-time work, 800 fewer than in the previous month.