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
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Personal finance
This could be interesting, too:
Investec writes Swiss inflation falls further in January
Investec writes Catching ski pass cheats – reactions, fines and worse
Investec writes Swiss milk producers demand 1 franc a litre
Investec writes Swiss income taxes at highest level since 2008
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.
More on this:
FSO press release (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.