by Figures published by Switzerland’s Federal Statistical Office (FSO) on 26 May 2023 show continued growth in the number of jobs in Switzerland. Photo by fauxels on Pexels.comAt the end of the first quarter of 2023, total employment was 2.2% higher than a year earlier and 0.6% higher than at the end of 2022. Companies in Switzerland reported a total of 7,100 (+5.9%) more vacancies than a year earlier and the employment outlook indicator remained positive, said the FSO. The number of jobs has grown in every quarter since the end of Q2 2020. Since 30 June 2020 the number of Swiss jobs has grown by a total of 5.7%. Regions with the greatest growth over this period were the Lake Geneva Region (+7.3%), Eastern Switzerland (7.2%) and Central Switzerland (+6.9%). Slower growth was
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Figures published by Switzerland’s Federal Statistical Office (FSO) on 26 May 2023 show continued growth in the number of jobs in Switzerland.
At the end of the first quarter of 2023, total employment was 2.2% higher than a year earlier and 0.6% higher than at the end of 2022.
Companies in Switzerland reported a total of 7,100 (+5.9%) more vacancies than a year earlier and the employment outlook indicator remained positive, said the FSO.
The number of jobs has grown in every quarter since the end of Q2 2020. Since 30 June 2020 the number of Swiss jobs has grown by a total of 5.7%. Regions with the greatest growth over this period were the Lake Geneva Region (+7.3%), Eastern Switzerland (7.2%) and Central Switzerland (+6.9%). Slower growth was experienced in Ticino (+5.8%), Zurich (+5.4%), Mittelland (4.4%) and North-Western Switzerland (+3.2%).
Since the end of Q2 2020, the number of women working (+6.6%) has increased more than the number of men (+4.8%).
During Q1 2023, the hardest jobs to fill were those requiring qualified apprentices. 4.9% of the jobs seeking people with these qualifications were unfilled. High percentages of jobs requiring higher professional education (4.3%) and university degrees (3.8%) were also unfilled. Those seeking workers with only compulsory school education had only 1.5% of their jobs unfilled.
While this is good news for job seekers it is not for central bankers who have the job of taming inflation – tight job markets typically drive inflation as employers compete for a limited supply of workers by raising pay.
The next Swiss National Bank rate decision is scheduled for 22 June 2023. The central bank’s current rate is 1.5%, up from -0.75% in June 2022.
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FSO press release (in French) – Take a 5 minute French test now
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