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2020 Zurich unemployment and job cuts

August 2020 Unemployment News and Company Job Cuts Switzerland Report

The latest employment figures show that 85,000 fewer people are employed now than at the same time in 2019. This is the biggest year on year decline since 1993. The second quarter federal labour statistics late August show a 1.6% reduction in employed people in Switzerland compared with this time last year. The drop was slightly higher for women than for men (1.7% and 1.5% respectively). Those in partial unemployment are not classified as out of work, in the statistics. The over 50 long-term unemployed and those off the RAV register seeking work are also not included. The Federal Statistical Office (FSO) said weekly hours per employed person fell by 9.5% in this period and there is a gender imbalance as more women were impacted. 223,000 people are now unemployed – that’s 17,000 more than 2019. Young people (15-24 years old) were particularly affected by the crisis: while the unemployment rate for the whole population climbed from 4.2% to 4.6%, it increased from 6.2% to 8.4% for this segment. Between the second quarter of 2019 and the second quarter of 2020, the number of employed Swiss nationals fell by 2.4%, however when residents with permits are reviewed, there were some

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