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According to the latest statistics published by the Secretary of State for the Economy's Department (SECO), unemployment in Switzerland is up by 60.4% to 150,831 individuals in August 2009 when compared to the same month last year.
Even though Switzerland has one of the lowest unemployment rates in Europe the increase in unemployment worries government officials.
Worst hit is the age bracket of 15 to 24 year olds whose unemployment has gone up from 4.6% to 5.3%, accounting for 29,298 individuals. This represents an increase in unemployment of 14% compared to July 2009. Compared to August 2008 unemployment among the young is up by 74.8%.