Swiss jobless rate stays at 8-month high of 3.3%

Swiss unadjusted unemployment rate came in at 3.3 percent in January of 2018, the same as in the prior month but slightly below market consensus of 3.4 percent. It remained the highest jobless rate since April 2017.

In January, there were 149,161 unemployed persons enrolled at the regional employment centers, about 2,507 more persons than in the prior month. Compared to the same month a year earlier, unemployment declined by 15,305 persons (-9.3 percent).

The number of jobseekers reached 213,125, an increase of 1,107 persons compared with December 2017 while it decreased by 13,736 compared with the same period last year.

Youth unemployment (15 to 24-year-old) decreased by 135 persons to 16,545. Compared to January 2017, this represents a decrease of 3,237 people (-16.4 percent).

Adjusted for seasonal factors, the unemployment stood at 3.0 percent, unchanged from the preceding month.