Econ
Mr. Schaffer
02/17/13
Unemployment in Switzerland and the reason behind it
For a number of years unemployment, at under 1%, was hardly an issue in Switzerland
Several reasons have been suggested for this stability Foreign workers with short-term permits absorbed the impact when economic times were bad Businesses did their best not to make workers redundant during periods of crisis, in order not to endanger the agreements ensuring social peace. There are few "problem" industries (mining, metallurgy) in Switzerland.However, during the economic recession of the 1990s, the number of jobless rose dramatically, reaching the record level of 5.7% in February 1997 as corporate restructuring led to staff cuts.A gradual upturn in the economy at the end of the 90s, and a change in the way the figures were calculated, caused the level of registered unemployed to fall to 1.7% in 2001.Since then the rate has fluctuated. At the end of 2007 it stood at 2.8%.Unemployment rates vary according to region: the French and Italian speaking areas have higher rates than the German-speaking ones. Women tend to be worse affected than men and foreigners worse affected than Swiss.
Several reasons have been suggested for this stability Foreign workers with short-term permits absorbed the impact when economic times were bad Businesses did their best not to make workers redundant during periods of crisis, in order not to endanger the agreements ensuring social peace. There are few "problem" industries (mining, metallurgy) in Switzerland.However, during the economic recession of the 1990s, the number of jobless rose dramatically, reaching the record level of 5.7% in February 1997 as corporate restructuring led to staff cuts.A gradual upturn in the economy at the end of the 90s, and a change in the way the figures were calculated, caused the level of registered unemployed to fall to 1.7% in 2001.Since then the rate has fluctuated. At the end of 2007 it stood at 2.8%.Unemployment rates vary according to region: the French and Italian speaking areas have higher rates than the German-speaking ones. Women tend to be worse affected than men and foreigners worse affected than Swiss.
The Swiss central bank does not hesitate to engage in sophisticated schemes of quantitative easing when an appreciating exchange rate is squeezing their export industries or they otherwise face unpleasant macroeconomic situations.
Unemployment Rate in Switzerland increased to 3.40 percent in January of 2013 from 3.30 percent in December of 2012. Unemployment Rate in Switzerland is reported by the State Secretariat for Economic Affairs. Historically, from 1995 until 2013, Switzerland Unemployment Rate averaged 3.36 Percent reaching an all time high of 5.40 Percent in March of 1997 and a record low of 1.60 Percent in November of 2000. In Switzerland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labor force. This page includes a chart with historical data for Switzerland Unemployment Rate. |
In January of 2013, 148 thousand people were registered as unemployed with the regional employment offices (RFOs) or 5 thousand more than in the previous month. The unemployment rate increased from 3.3 percent in December of 2012 to 3.4 percent in the month under review.
http://www.swissworld.org/en/economy/workers_and_jobs/unemployment/
http://www.indexmundi.com/switzerland/unemployment_rate.html
http://www.tradingeconomics.com/switzerland/unemployment-rate
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