Swiss Jobless Rate Drops In February

Swiss Jobless Rate Drops In February

8 March 2016, 09:10
Roberto Jacobs
Swiss Jobless Rate Drops In February 2016

Switzerland's unemployment rate decreased marginally in February, in line with expectations, the State Secretariat for Economic Affairs (SECO) said Tuesday.

The unadjusted jobless rate dropped to 3.7 percent in February from a near six-year high of 3.8 percent in the previous month. The figure also matched consensus estimate.

On a seasonally adjusted basis, the unemployment rate held steady at 3.4 percent in February.

The number of overall unemployed decreased to 161,417 in February from 163,644 in January. A year ago, the jobless figure totaled 149,921.

The youth unemployment rate, which applies to the 15 to 24 age group, dropped to 3.6 percent in February from 3.8 percent a month ago.

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