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Swiss unemployment numbers may be underreported

Thursday, 14 November 2024 06:30

Switzerland may be under-reporting its unemployment numbers compared to the international norm.

The International Labour Office defines unemployment as some one who isn’t working but says they can take a suitable job with 2 weeks or less notice. Many other countries use the similar method. 

But Switzerland only counts those who are claiming unemployment benefits, which expire. So, when someone who isn’t working and no longer entitled to payments, they drop out of the numbers. 

Currently, the official Swiss unemployment rate is 2.3%, but using the more internationally accepted method, it’s close to 4.2%.

In Geneva, the numbers are even more sharp. Officially the rate is 4.3%, but the ILO method suggests it could be as high as 10%.

 

 

 

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