Job market remains "in good shape"

The number of jobless in Switzerland was last year at its lowest point in five years, according to figures published by the State Secretariat for Economic Affairs.

This content was published on January 7, 2008

Seco reported on Monday that the unemployment rate in 2007 was 2.8 per cent, its lowest point since the 2.5 per cent recorded in 2005.

In a statement Seco said that unemployment in December rose to 2.8 per cent or 2.6 per cent when adjusted for seasonal factors – the same as the previous month.

At the end of December, a total of 109,012 people were registered as unemployed, with 11,420 job vacancies on offer.

Seco said that the marked decrease in unemployment, which had already started in 2006, continued in 2007. It added that the increase towards the end of the year was mainly determined by seasonal factors.

"What this tells me is that the labour market is still in good shape," commented market analyst Jan Poser at Bank Sarasin.

"With the strong growth we have in Switzerland, we still have a job market recovery. The downturn in joblessness should continue for some time into the future."

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