The unemployment rate in Switzerland remained unchanged in June, standing at 1.9% as in May, thus maintaining its lowest level since the end of 2001, in a context of severe labor shortages, employment agencies say .
At the end of June, 85,099 people were registered unemployed, 2,977 less than in May, without this slight decrease having a statistical impact, according to statements by the Ministry of Economy published this Friday.
Youth unemployment fell 1.2% from the previous month. That of those over 50 fell by 4.3%, details the ministry in a press release. Over a year, unemployment in Switzerland remains 8% lower compared to June 2022, with 7,412 fewer people registered.
According to him, this shortage is explained, among other things, by a demographic factor, with the retirement of the baby boom generation.
New career options
Added to this is a phenomenon that had “started before Covid-19” but “has accelerated with the pandemic”, namely that some workers are reassessing their career choice in relation to their personal life balance.
“The third reason is the shortage of skills,” continues the Adecco boss. “This is what we see in Switzerland but also in the rest of the world”, he specifies.
According to an employment index published on Tuesday by Adecco, the job market in Switzerland currently appears to be stabilizing at a high level. Prepared with the University of Zurich, this index, which compiles the offers published in Switzerland, stagnated for the second consecutive quarter after a very strong growth phase since the beginning of 2021.
According to this index, demand remains strong for construction professionals, with the number of openings in these trades having increased by another 20% compared to the first half of 2022. Demand also remains strong for machinists, warehousemen, cooks , polymechanics, millers or watchmakers
Employment supports consumption
By contrast, advertised job openings fell “unexpectedly” in IT and academic occupations, according to this index, falling 20% from the first half of 2022 to the detriment of software developers and analysts in particular.
According to a barometer released in June by its US competitor Manpower, job prospects in Switzerland dipped a bit in the third quarter. While Swiss companies are now showing some caution in hiring, “skilled labor shortages remain a major challenge,” Jan Jacob, Manpower’s director of Swiss activities, said in a statement.
In mid-June, the Swiss Ministry of the Economy maintained its unemployment forecast at 2% for 2023. The forecast for gross domestic product is also maintained, with an expected increase of 1.1%, contributing to the good performance of the labor market supporting consumption.
Source: BFM TV
