The annual Swiss unemployment rate rose to 3.3% in 2016, a 0.1 point increase on the previous year, according to figures released by the State Secretariat for Economic Affairs (SECO) on Tuesday. This may appear insignificant compared to the average European unemployment rate of 9.8% but it hides the very real problem of those forced to make up for the financial loss faced by their employers due to the strong franc.
The Eurozone unemployment rate declined to 9.8% for October from a revised 9.9% for September, which was originally reported as 10.0% and was also lower than the consensus forecast of 10.0% for the month and it was the lowest recorded rate since July 2009. Statistics agency Eurostat said Thursday that there were some 15.9 million people without jobs in the euro zone in October, down 190,000 from September and 1.8 million fewer compared with October 2015. However, the youth unemployment that applies to those under 25 years of age held steady at 20.7% in October.
After nearly seven years from the end of the deepest global financial crisis of the postwar period, growth continues to be slow in advanced countries and falling in most emerging market economies. There is even the risk that the world may be drifting toward a new global financial crisis and even secular stagnation. These are the issues examined in this paper.
The unemployed registered at employment offices at the end of October, were 144.531 in Switzerland, or 1.856 units more than the previous month, according to figures released by the State Secretariat for Economic Affairs (SECO). However, the unemployment rate remained unchanged at 3.2%, confirming the trend from May. At the beginning of the year it was 3.6%.
Applications for unemployment benefits in the US fell again in the week endend 17 September. The US labor market confirms the solidity, keeping unemployment at the lowest level since 1973. Claims slide by 8.000 units to 252 000 from 260 thousand the previous week's unrevised. Analysts' forecasts were instead for a small increase to 262 thousand units. The streak below 300k estends to 81 consecutive weeks, the longest since 1970.
Applications for unemployment benefits in the US in the week ended on September 10 grew slightly. Jobless claims rose by 1,000 to 260,000 from 259,000 the previous week. Analysts' forecasts were instead for an uphill 265,000. Applications have come in below 300,000 for 80 straight weeks, longest streak since 1970.
The unemployment rate remains substantially stable in July in UK, even after Brexit, that has not slowed the pace of creation of jobs, according to the data published by the Office for National Statistics (ONS). In July the number of people who applied for unemployment benefit in Britain rose to 2,400 units, compared to 3,600 the previous month. The figure is worse than expected by analysts which estimated an increase of 1,800 units.
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