Swiss / Influx of Skilled EU Workers Good for the Economy says Zurich-based KOF

The strong inflow of immigrants into Switzerland in the decade through 2011 helped boost the Alpine country’s economy and hasn’t led to local workers being squeezed out of the labor market, according to a study by the KOF economic institute.

“On the contrary, the influx of foreign workers into Switzerland since 2002 has reduced unemployment among locals and even allowed them to get better-paid jobs,” said Zurich-based KOF in the study released Thursday.

The Swiss economy has outperformed the European Union in recent years, and its current 3% rate of unemployment compares with the 12.2% rate in the euro region in April.

The difference between Switzerland the euro zone is even more marked as far as youth unemployment is concerned, with only 3% of Swiss workers under 25 years out of work, compared with 23.5% in the 27 countries comprising the EU.

Chosen excerpts by Job Market Monitor

via Swiss Economy Buoyed by Influx of Skilled EU Workers -Study.