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Swiss labor market on the way to normalization in 2023
On January 9, 2024, SECO published the latest figures on the Swiss labor market in 2023. Due to the weaker economic development, the decline in unemployment in 2023 only continued until spring. Since then, unemployment has risen slightly from a historically very low level. For the 2023 reporting year, the average unemployment rate is 2%, which corresponds to a decrease of 0.2 percentage points compared to 2022 (2.2%). At the same time, unemployment insurance recorded a revenue surplus of CHF 2.79 billion. Despite a slight decline in demand for labor, many companies are still reporting difficulties in recruiting ... (full story)