The RAV is quiet, the unemployment rate is record low. RAV in Winterthur ZH.
Despite inflation, war and fears of recession, the Swiss labor market is showing its best side: Unemployment is at its lowest level in 20 years! For 2022 as a whole, the State Secretariat for Economic Affairs (Seco) put the unemployment rate at an average of 2.2 percent. That is 0.8 percentage points less than in the previous year.
In absolute figures, 99,577 people were registered as unemployed last year, 38,037 fewer than in the previous year (-27.6%).
According to Seco, this is the lowest unemployment rate in more than 20 years. According to the information, a lower unemployment rate of 1.7 percent was last reported in 2001.
20 percent fewer unemployed year-on-year
Together with the figures for the year as a whole, Seco also published the unemployment statistics for December: At the end of December, 96,941 people were registered as unemployed at the regional employment centers (RAV). The rate in the last month of the year was 2.1 percent after 2.0 percent in November.
The unemployment rate is usually subject to seasonal fluctuations because there is less work in the winter months, for example in construction, agriculture and gastronomy. The unemployment rate adjusted by Seco for seasonal factors even fell to 1.9 percent in December 2022 after 2.0 percent in the previous month.
Compared to December 2021, the number of unemployed was 24,787 lower. It was 20.4 percent lower.
Companies are struggling with staff shortages
The record-low unemployment is a blessing for employees – but a curse for companies. According to the Seco, the labor market development in 2022 was “increasingly characterized by a shortage of labor supply”. Companies are struggling with staff shortages.
How dried up the job market in Switzerland is can be seen from the job search data. According to Seco, this number was 96,941 in December, 6.1 percent higher than in November. A year ago, however, 24,787 more people were looking for a job.
The number of jobs reported to the RAV fell by 7,973 to 48,473 in the month under review. According to the information, 36,706 of the jobs reported as vacant were subject to the job registration requirement for occupations with an unemployment rate of at least 5 percent. These professions include several from the hotel and catering industry or construction. The list is updated for each new year.
Short-time work on the retreat
The instrument of short-time work hardly plays a role in the Swiss labor market anymore. In October – the data are reported with a delay – only 1894 people were still on short-time work. The number of short-time workers rose by 24.2 percent or 369 people compared to September. However, the number of companies affected by short-time work fell by six to 175 companies.
However, it is possible that the number of employees on short-time work will increase again in the new year: ski areas at lower altitudes had recently asked to be able to apply for short-time work due to the lack of snow. (SDA/sfa)