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Swiss government sees jobless payouts tripling as coronavirus hits economy
The Swiss government expects the cost of jobless benefits and short-time working Compensation arising from the coronavirus crisis to jump to some 20 billion francs ($20.51 billion) this year from 6-7 billion normally, an official said on Thursday. The country’s economy faces uncharted territory with an uncertain outcome, said Boris Zuercher, from the State Secretariat for Economic Affairs (SECO). He added that the crisis unleashed by the global pandemic defied comparison but that it conjured images of the Great Depression of the 1930s. “We will need another 14 billion in additional financing for the unemployment ... (full story)