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Tags: luxury industries, luxury watch, swiss economy, Unemployment, unemployment switzerland

Swiss Labor Market Remains Tense

Posted on 07 December 2009 by PCT

swiss_labourThe Swiss employment market continued to deteriorate in the 3rd quarter with some sectors of the economy struck harder than others. The most jobs were lost in the luxury industries and watch making sector with the unemployment rate skyrocketing nearly 300% in a period of 12 months. Also the number of unemployed increased by roughly 150% over the same 12 month period. Workers in energy and real estate saw the number of their unemployed double over the past year.

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Modification in Unemployment Compensation from April

Posted on 20 March 2007 by LegalBeagle

As regards unemployment compensation, the “Geneva Exception” is over.

Heretofore, the canton of Geneva accorded its unemployed up to 520 days of indemnities
At 70% – 80% of last salary.

The Federal Authorities in Bern have overruled the practice and as of April. From that point on, unemployed persons over 50, who currently are paid up to 520 days unemployment, will be cut off after 400 days. Bern justifies the measure by the highly favorable economic climate and the burgeoning job opportunities in Switzerland.

From April onward, only those unemployed over 55 years old, and who have been working in Switzerland at least 18 months full time (thus paying 18 months of unemployment insurance) will be eligible for up to 520 if they find themselves unemployed. In Geneva, the result of the Federal directive is that 207 employed persons over 50 years of age will find themselves at the end of their indemnities much sooner than expected.

It is the second time that the Federal Government in Bern intervenes in the legislation concerning payment of indemnities to unemployed people.

work-in-switzerlandIn 2005, the Federal government eliminated the 520-day allotment accorded to any unemployed persons in the Canton of Geneva and allowed 520 days to remain for those over 50.

At the time, the reduction for those under 50 years of age from 520 days to 400 days had provoked a wave of persons arriving at the end of the indemnities much sooner than expected and creating minor social problems as the Geneva cantonal government tried to find temporary jobs for them in the cantonal or municipal government.

In Neuchatel and Vaud, the era of 520 has long since past; Geneva was the last holdout.

As a rule, in Geneva the cantonal government usually makes a strong effort to find employment within the government for those at the end of their unemployment indemnities.

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