Swiss Unemployment Unchanged at 3.0% as Youth Rate Rises to 3.4%

Key Facts

1August unemployment remained unchanged at 3.0%, or 3.1% after seasonal adjustment.

2Youth unemployment rose to 3.4% from 2.8% in July.

3Sporting-event-adjusted gross domestic product rose 1.5% in the second quarter after 0.5% in the previous quarter.

The State Secretariat for Economic Affairs said in a report dated September 7 that registered unemployment remained unchanged at 3.0% in August, as did the seasonally adjusted rate at 3.1%. Registered unemployment totaled 141,544, up 2,268 from July and 7.1% year on year. Youth unemployment rose to 3.4% from 2.8% in July. Registered vacancies declined 3.2% from July to 43,733.

Federal Statistical Office figures published on August 18 showed that the employed population rose 0.8% year on year in the second quarter. Unemployment under the International Labour Organization definition rose to 4.9% from 4.6% a year earlier. In the European Union, the comparable rate remained unchanged at 5.9%. These quarterly results come from the Swiss Labour Force Survey, which applies International Labour Organization definitions.

On September 3, the State Secretariat for Economic Affairs said real gross domestic product adjusted for seasonal and sporting-event effects rose 1.5% quarter on quarter in the second quarter after 0.5% in the previous quarter. Manufacturing value added rose 4.5%, led by a 10.5% increase in chemicals and pharmaceuticals. Private consumption rose 0.3%, with higher spending on health, food, restaurants and accommodation. Domestic final demand also rose 0.5% after a weak start to the year.

On September 3, the Federal Statistical Office said consumer prices rose 0.4% in August from July, taking the index to 101.5 points on a December 2025 base of 100. Annual inflation was 0.8% in August. Higher rents, petrol, diesel, heating oil and inpatient hospital services contributed to the monthly increase. By contrast, prices for international package holidays, car rentals, car sharing and supplementary accommodation declined.

In an assessment dated June 18, 2026, the Swiss National Bank kept its policy rate unchanged at 0% and expressed increased willingness to intervene if necessary against rapid, excessive franc appreciation. Assuming the rate remains at 0%, the bank forecast average inflation of 0.6% in both 2026 and 2027. It also projected economic growth of about 1% in 2026 and 1.5% in 2027. The bank identified the global economy, the Middle East, US trade policy and the possibility of renewed upward pressure on the franc among the risks to its outlook.