The Swiss-registered unemployment rate stood at 2.4% in October, down from 3.0% in October of last year according to the State Secretariat for Economic Affairs (SECO).

SECO found that there were 107,315 unemployed who were registered at the regional employment agencies, down by 20.4% compared to the same period last year.

Meanwhile, youth unemployment (aged 15-24) declined by 3,841 people (-22.7%) when compared to the same month last year.

For those 50 and over, the number of unemployed fell by 16.7%.

SECO also found that a total of 183,446 jobseekers were registered, a decrease of 14,579 people (-7.4%) when compared to the same period last year.

Data from SECO also showed that On 1 July 2018, jobseeker registration was introduced with an unemployment rate of at least 8% throughout Switzerland. The number of vacancies reported to RAV decreased by 4,198 to 32,090 in October. Of the 32,090 jobs, 18,819 were subject to mandatory reporting.

Figures from Swiss Staffing, the Swiss Federation for Staffing Companies, showed that the Swiss temporary staffing market grew by 5.5% in the third quarter of 2018, compared to the same period last year.