In August 2020, the number of unemployed people registered with the RAV (Regional Employment Office) increased again. Pushing the unemployment rate to 3.3% (from 3.2% in July 2020).
At the same time last year, there were 52,600 fewer people registered as unemployed (for a rate of 2.1%), which corresponds to an increase of 51.8%.
Young people are the most affected:
The number of unemployed young people aged 15 to 24 increased by 13.7% between July and August. All this equates to an unemployment rate of 3.9% among 15 to 24-year-olds.
Young people are more affected, in particular, because they are unable to find a job after their apprenticeship or studies.
However, it is "normal" that there is such a large jump in unemployed young people between July and August 2020 because it coincides with the end of school and apprenticeship training. This increase is the highest it has been in several years.
The 50 to 64 age group is the "least affected" by this crisis, with an annual increase of 45.2%.
At the national level, the unemployment rate in German-speaking Switzerland in August 2020 was 2.8%, compared with 4.3% for French-speaking Switzerland and Ticino. On the other hand, the unemployment rate among foreigners (holders of residence permits) was 5.5% compared to 2.4% for the Swiss.
These figures are strikingly similar to the debtor ratios in Switzerland.
An unemployment rate of virtually 20%?
Thanks to the short-time work that companies have to been able benefit from, the unemployment rate has not reached too high a threshold. It has been estimated that around 20% of the working population would have been unemployed without such measures taken by the Confederation.
A stitch in time saves nine:
If you become unemployed, you only receive 70% or 80% (if you have dependent children) of your former income.
Let's take the example with a net salary of CHF 5,000, without children you will only receive CHF 3,500.00 per month (or CHF 4,000 with children)
Suffice to say that this difference quickly turns out to be problematic and disrupts your monthly budget and therefore the payment of your current bills, such as health insurance, telephone, etc.
To counter this and avoid accumulating debts, Helvetia income Protect loss of earnings insurance covers this income deficit by providing you with between 20% and 30% of your income. With this insurance, the customer chooses his own monthly benefit, according to his needs.
Our services for you range from CHF 500 to CHF 2,000 per month.
This insurance will cover you in the event of incapacity to work or involuntary unemployment, depending on the benefit you have previously chosen, which you will use as you see fit.
Another advantage of Income Protect insurance is that you can take it out in your name, but also, if you wish, in your wife's name, in order to ensure the family's full income!
The conditions for benefiting from unemployment insurance:
Firstly, in order to benefit from Helvetia's loss of earnings insurance, the following are important points:
- Work a minimum of 30 hours per week, for at least 12 months
- Not have been on sick leave or accident for more than 20 days in the last 12 months
Once the insurance contract has been signed, there is a waiting period of 3 months before the insurance is active.
Once this period has passed, in the event of unemployment, you will have to wait another 3 months before you can be insured for one year.
If, unfortunately, you were to find yourself on sick or accident leave, you would be insured immediately, without any waiting period.