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Coronavirus

Swiss Government Adds more than $14.5 Billion into the State Unemployment Insurance System

GENEVA — Switzerland’s government says it is adding more than 14 billion francs ($14.5 billion) into the state unemployment insurance system.

Requests from companies have poured in, seeking help for workers representing 37 percent of the country’s total workforce during the coronavirus pandemic.

Economy Minister Guy Parmelin says in the capital of Bern that “190,000 companies have requested indemnification and partial unemployment for more than 1.9 million workers.”

He says Switzerland’s unemployment rate, which is low by international standards, has risen to 3.4 percent from 2.5 percent in March, and is expected to top 4 percent next year.

“The good news is that the application for partial unemployment have since stabilized,” Parmelin says.

He says the government plans to gradually ease such support.

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