FX.co ★ Swiss Jobless Rate Falls Slightly To 1.9%, Lowest In 7 Months

Switzerland's unemployment rate decreased in May to the lowest level in seven months, in line with expectations, the State Secretariat for Economic Affairs, or SECO, said on Wednesday.

The unadjusted unemployment rate dropped to 1.9 percent in May from a stable rate of 2.0 percent in April.

Further, a similar jobless rate was last seen in October 2022.

In the corresponding month last year, the jobless rate was 2.1 percent.

The number of registered unemployed persons decreased to 88,076 in May from 90,534 in the prior month.

The youth unemployment rate, which is applied to the 15-24 age group, remained stable at 1.7 percent in May.

Data also showed that the seasonally adjusted jobless rate came in at 2.0 percent in May, up from 1.9 percent in the prior month.