by 26.11.2020 – In the 3rd quarter 2020, total employment (number of jobs) fell by 0.4% in comparison with the same quarter a year earlier (+0.5% with previous quarter). In full-time equivalents, employment in the same period declined by 0.1%. The Swiss economy counted 11 900 fewer vacancies than in the corresponding quarter of the previous year (–15.1%) with the employment outlook indicator also indicating a downward trend (-2.3%). These are some of the latest findings from the Federal Statistical Office (FSO). Switzerland Employment Level, Q3 2020 Source: investing.com - Click to enlarge You Might Also Like Swiss Consumer Price Index in July 2020: -0.9 percent YoY, -0.2 percent MoM The consumer
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| 26.11.2020 – In the 3rd quarter 2020, total employment (number of jobs) fell by 0.4% in comparison with the same quarter a year earlier (+0.5% with previous quarter). In full-time equivalents, employment in the same period declined by 0.1%. The Swiss economy counted 11 900 fewer vacancies than in the corresponding quarter of the previous year (–15.1%) with the employment outlook indicator also indicating a downward trend (-2.3%). These are some of the latest findings from the Federal Statistical Office (FSO). |
Switzerland Employment Level, Q3 2020 Source: investing.com - Click to enlarge |
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Swiss Consumer Price Index in July 2020: -0.9 percent YoY, -0.2 percent MoM
The consumer price index (CPI) fell by 0.2% in July 2020 compared with the previous month, reaching 101.2 points (December 2015 = 100). Inflation was –0.9% compared with the same month of the previ-ous year.
Swiss labor force survey in the 2nd quarter of 2020: labor supply
The number of employed persons in Switzerland fell by 1.6% (–82 000) between the 2nd quarter 2019 and the 2nd quarter 2020. Furthermore, the actual weekly hours per employed person declined by 9.5%.
Switzerland GDP Q2 2020: -8.2 percent QoQ, -9.3 percent YoY
Switzerland’s GDP fell by –8.2 % in the 2nd quarter of 2020, after decreasing by –2.5 % (revised) in the previous quarter.* Domestic economic activity was severely restricted in the wake of the pandemic and the measures are taken to contain it. The global economy also plunged into a sharp recession. However, Switzerland’s GDP decline remained limited in an international comparison.
Rise of 380 000 jobs in tertiary sector between 2011 and 2018
28.08.2020 – In 2018, almost 70 000 additional jobs were counted in Switzerland, bringing the total to more than 5.2 million. As in the previous years, the tertiary sector, which accounted for some 4 million jobs in 2018, contributed greatly to this increase with a +1.5% rise in employment.
Swiss Retail Sales, July 2020: 3.4 percent Nominal and 4.1 percent Real
Turnover adjusted for sales days and holidays rose in the retail sector by 3.4% in nominal terms in July 2020 compared with the previous year. Seasonally adjusted, nominal turnover rose by 0.7% compared with the previous month.
GDP level corrected from 2.8 percent to 3.6 percent between 1995 and 2017 following revision of the national accounts
The results of the national accounts published by the Federal Statistical Office (FSO) have been revised upwards. New data series are available for the period 1995 to 2019. This revision was carried out in collaboration with the sector responsible for quarterly estimates at SECO, provides methodological improvements and takes into consideration new data.
Forecast: 2020 economic slump less serious than feared
The Expert Group is expecting GDP adjusted for sporting events to fall by 3.8 % in 2020 and unemployment to average 3.2 % over the year as a whole. Prospects for 2020 are therefore less negative than feared in the middle of the year. The momentum is likely to weaken as time goes on.
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Forecast: 2020 economic slump less serious than feared(PDF, 4 pages, 488 kB)
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Economic forecasts by the Federal Government’s Expert Group for autumn
Swiss Consumer sentiment: No further recovery of consumer sentiment
Consumer sentiment in Switzerland has largely been stagnating since the summer. All sub-indices used for the calculation are still below their long-term average and none have improved significantly compared to this summer’s survey. Economic development and the situation on the labour market are seen as unfavourable.
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No further recovery of consumer sentiment(PDF, 2 pages, 417 kB)
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Consumer Confidence: Results of the October 2020
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