Youth increase Swiss unemployment

8th September 2009, Comments 0 comments

Switzerland's unemployment rate climbed again in August as youth unemployment grew sharply.

Geneva -- Switzerland's unemployment rate climbed again in August to 3.8 percent from 3.7 percent in July as youth unemployment grew sharply, official figures showed on Tuesday.

The total number of people registered as unemployed reached 150,831, an increase of 5,467 over July, the State Secretariat for Economic Affairs said in a statement.

The sharpest increase was recorded among 15 to 24 year-olds, including school leavers and students, where the unemployment rate rose from 4.6 percent in July to 5.3 percent.

Their numbers reached 29,298 in August, an increase of nearly three-quarters over August 2008.

The Swiss government expects the overall unemployment rate to reach an average of 3.8 percent in 2009 due to the economic crisis, sharply up from 2.6 percent in 2008.

Bern approved a third stimulus package in June which includes measures to tackle growing unemployment.

AFP / Expatica

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