ZURICH - Unemployment in Switzerland hit a four year high in October, reaching 4.0%, official data showed Friday.
The number of people registered as unemployed reached 158,138, an increase of 3,729 over September when the unemployment rate stood at 3.9%, the Swiss economy ministry said in a statement.
However, youth unemployment among 15 to 24 year-olds fell by 2.7% to
29,183 in October.
It was the highest overall jobless rate since the 4.1% recorded in February 2005, as the recession bit into the Swiss job market and ended a period of near full employment.
Unemployment is expected to reach an average of 3.8% this year with a peak of 5.2% in 2010 that would rival highs last reached 12 years ago, according to government forecasts.
The unemployment rate reached an average of 2.6% last year.
