Swiss Unemployment Improves in July Comparing to June

The unemployment rate in Switzerland remained steady from June at a rate of 3.2%, a total of 148,870 people had registered as jobless.

The shorter working hours scheme, introduced by the government to limit job losses as a result of the coronavirus pandemic, brought its results: In May, 890,890 people worked shorter hours, down 17% from April, while nearly 110,000 companies were using the measure, down 16%. Nevertheless, the government commented that they had overestimated how the amount of short-time work employers would cushion the blow of decreasing demand. 

Unemployment is still up nearly 53%, comparing to a year ago, a shocking percentage for Switzerland’s strong economy, but at the very least, unemployment stats are not taking a turn for the worse. We ask ourselves, what is the short-term future of CHF?

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