2012.06.0703:00:00UTC+00Swiss Jobless Rate Drops To 3% In May

Switzerland's unemployment rate decreased from the previous month in May, data released by the State Secretariat for Economic Affairs (SECO) showed Thursday.

The seasonally adjusted unemployment rate dropped to 3 percent in May from 3.1 percent in April. Economists expected the jobless rate to remain unchanged. In May 2011, the unemployment rate was 2.9 percent.

The number of jobless persons in the country decreased by 3.5 percent from the previous month to 118,860 in May.

The number of unemployed youth, aged between 15 and 24, decreased by 6.9 percent month-on-month to 15,520 during the month. At the same time, long-term unemployment, which refers to persons unemployed for one year and more, dropped by 1 percent to 19,055, data showed.