Unemployment on a five-year high.

Position:News
 
FREE EXCERPT

The number of people out of work in Switzerland has recently passed the important psychological barrier of 150,000 for the first time in more than five years.

Job fears are predicted to continue to drag Switzerland's sluggish economy.

The State Secretariat for Economic Affairs (seco) announced late November that the number of registered unemployed in October 2003 had risen by 4,571 to 151,259, taking the unemployment rate to 3.8 per cent.

October's increase in the unemployment rate from September's 3.7 per cent had been widely expected and the situation is likely to worsen, peaking at around 160,000 in January...

To continue reading

REQUEST YOUR TRIAL