Swiss labor market, the situation updated to January 2024

by | 7 Feb 2024 | Work

According to surveys conducted by the State Secretariat for Economic Affairs (SECO), 113,175 unemployed people were registered with regional employment offices (RCOs) at the end of January 2024, which is 6,316 more than the previous month.

The unemployment rate rose from 2.3 percent in December 2023 to 2.5 percent in the month under review.

Compared with the same month last year, the number of unemployed increased by 12,399 (+12.3 percent).


Youth unemployment in January 2024

The number of unemployed youth (15-24 years old) increased by 430 (+4.3%) to a total of 10,332, what corresponds to 1,293 more people (+14.3%) than in the same month of the previous year.

Unemployed people aged 50-64 in January 2024

The number of unemployed people aged 50-64 increased by 1,683 people (+5.6 percent) to 31,807. Compared with the same month of the previous year, this corresponds to an increase of 1,769 people (+5.9%).

People seeking employment in January 2024

Overall, there were 182,253 registered job seekers, 5,274 more than in the previous month and 12,737 (+7.5 percent) more than in the corresponding period of the previous year.

Vacancies announced in January 2024

On July 1, 2018, a requirement to announce vacancies for genres of professions with an unemployment rate of at least 8 percent was introduced throughout Switzerland; as of January 1, 2020, this threshold value was reduced to 5 percent.

The number of posts announced at URC increased in January by 6,726 to 42,106. Of the 42,106 places, 22,381 were under the announcement requirement.

Reduced work counted in November 2023

In November 2023, 4,067 people were affected by short-time work, which is 433 fewer (-9.6%) than in the previous month. The number of affected companies decreased by 13 (-8.7 percent) to 137. The number of lost work hours decreased by 15,016 (-7.0%) to 199,607 hours.

In the corresponding period of the previous year (November 2022), 180,823 lost hours were recorded, spread over 3,481 people in 288 companies.

People who have exhausted their right to the allowance in November 2023

According to provisional data provided by unemployment insurance funds, 1,851 people exhausted their entitlement to unemployment insurance benefits during November 2023.