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Financial News: Swiss Jobless Rate Steady At 2.3%

Swiss Jobless Rate Steady At 2.3%

01/10/2020 - 02:20:00 (RTTNews)

(RTTNews) - Switzerland's unemployment rate remained stable in December, the State Secretariat for Economic Affairs, or SECO, reported Friday.

The jobless rate held steady at a seasonally adjusted 2.3 percent in December, in line with expectations.

On an unadjusted basis, the unemployment rate rose to 2.5 percent from 2.3 percent a month ago.

In December, the number of people out of work increased by 10,947 from the previous month to 117,277.

The youth unemployment rate, which applies to the 15 to 24 age group, edged up to 2.4 percent from 2.3 percent in the previous month.

The agency said unemployment continued to decrease in 2019 despite subdued economic growth.

The jobless rate for the whole year fell to 2.3 percent from 2.5 percent in 2018. Likewise, the youth unemployment rate decreased by 0.3 percentage points to 2.2 percent.

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