Swiss July official unemployment stable at 2.8%

8th August 2011, Comments 0 comments

Switzerland's unemployment rate was flat at 2.8 percent in July compared to June, the economy ministry said Monday.

At the end of July, 109,200 people were registered as unemployed, 1,178 less than the previous month, it said.

Compared to a year ago, the unemployment rate was down 23.3 percent.

However, the jobless rate among 15 to 24 year-olds rose slightly to 8.7 percent compared to June, it added.

Switzerland's economy has been growing since the third quarter of 2009, but in remarks published Sunday, the head of the state secretariat for economy's labour division, Serge Gaillard, said the strong franc risked pushing up the unemployment rate.

The franc was trading Monday morning at around 1.085 francs per euro, a rise of nearly 30 percent compared to a year ago.

© 2011 AFP

0 Comments To This Article