Chapter 5

"Unemployment hits four:and:a:half year low"
http://www.nzz.ch/2007/04/10/eng/article7701904.html


Currently in Switzerland, the unemployment rate is at an all time low. For the first time in about four and a half years, the level of unemployment is at three percent. The reason for these decreasing rates is due to Switzerland’s thriving economy. This article mentions that unemployment just dropped another 0.2 percent in February (117,915 unemployed to 8,500), and that the amount of jobs obtainable rose to over 13,000.
According to financial analysts, the falling number of people without jobs did not come as a shocker because there was progress in all sectors (especially the service sector). Because economy is doing well, and there is an abundant amount of work to be found, it would not be a surprise if the unemployment rates continue to fall; in fact, the rate is estimated to continue dropping.

Relation to Chapter 5

This relates to chapter 5 because Switzerland’s economy is able to demonstrate the effects of unemployment. Since the economy is improving, more people are able to find jobs, leading to a decline in the rate of unemployment. When unemployment goes down, the economy keeps on doing better and better and thus avoiding demand - deficient unemployment. This article also proved that the citizens of Switzerland have steered clear of structural unemployment because jobs in Switzerland are becoming easier to attain. Seasonal, natural and insurance - induced unemployment may still occur however, because of the booming economy the chances of rising levels of unemployment are very slim.
I think it is wonderful that Switzerland’s economy is doing very well. If things are great there, than other parts of the world may soon begin to do well also. Because Switzerland is associated with other countries, there’s a chance they’ll boost those economies.