Youth unemployment Switzerland: 3.4% in August 2023 (cross-border guide)

Context

In a nutshell

• Youth unemployment: 3.4% in August 2023
• Average time to find a job: 3 months for under 25s
• Seasonal peak: August
• Reduced work: decreased use
• Labour market: solid

Key facts

• What: Increase in youth unemployment
• When: August 2023
• Where: Switzerland
• Who: Dry
• Amount: 3.4% unemployment

The Swiss labour market continues to show signs of solidity, despite geopolitical and cyclical uncertainties. According to Jérôme Cosandey, head of the labour directorate at the State Secretariat for Economic Affairs (SECO), unemployment data for August 2023 show a share of 3.0% overall, with a significant increase among 15-24 year olds, rising to 3.4%. This increase of 0.6 percentage points compared to July is attributed to a seasonal phenomenon, with 2,400 more people than the previous month, bringing the total number of unemployed in this age group to 14,700.

Seasonal phenomenon

Cosandey explains that this is a completely normal seasonal phenomenon, with thousands of young people finishing school, training or university and entering the labour market. The peak of the unemployed in this segment is usually reached in August, with a rapid decrease among the under-20s towards autumn and a better situation for the 20-25 year olds with the beginning of the following year. “It should happen this time too,” the senior executive said confidently.

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Operational details

Analysis of the seasonal phenomenon

The seasonal phenomenon of rising unemployment among young people in August is a well-known phenomenon in the Swiss labour market. This increase is linked to the fact that thousands of young people finish school, training or university and enter the labour market, often without having found a job yet. This phenomenon is completely normal and occurs every year, with the peak of the unemployed in this segment usually being reached in August.

Implications for the labour market

The rise in youth unemployment in August has implications for the Swiss labour market as a whole. However, according to Jérôme Cosandey, head of labour management at SECO, this seasonal phenomenon should not have a significant impact on the labour market in the long term. The Swiss labour market continues to show signs of solidity, despite geopolitical and cyclical uncertainties.

Comparison with other age groups

The data on youth unemployment in August also confirms a structural difference in the Swiss labour market. Young people are more exposed to the risk of not having a job, but they find a new accommodation much faster than older people. On average, for those under 25 it takes just over three months to get off the unemployed list, while for those over 55 it takes more than nine months.

Using the

Recommended tools

For an updated estimate, use the net salary calculator and the CHF-EUR exchange comparator.

Key points

# Youth Actions

Young people entering the labour market in August can do several things to improve their chances of finding a job. First of all, it is important to maintain a positive attitude and not become demoralized in the face of rising unemployment at this time of year. It is also important to try to develop new skills and competences specific to the labour market.

Using available tools

Young people entering the labour market in August can also make use of the tools available to improve their chances of finding employment. For example, they can use the calcolatore stipendio to get a better idea of their salary expectations and available job opportunities. They can also make use of the tools available for training and career guidance.

Monitoring the situation

Finally, young people entering the labour market in August can make use of the tools available to monitor the labour market situation and get a better idea of the job opportunities available. For example, they can make use of the tools available for labour market information gathering and career guidance. They can also make use of the tools available for training and career guidance.

Source: tio.ch