by On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019. © Suwat Supachavinswad | Dreamstime.comIn 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose this much was in 2015 when the real increase was 1.5%. In both 2015 and 2020 negative inflation of -1.1% and -0.7% significantly boosted nominal increases of +0.4% and +0.8%. In 2020, the jump in salaries was not uniform across all sectors. In some areas the real salary increase in 2020 was as high as 3.4% (information technology). At the other end, average real salaries in insurance sank by 1.4%.
Topics:
Investec considers the following as important: 3) Swiss Markets and News, 3.) Investec, Featured, newsletter
This could be interesting, too:
RIA Team writes The Importance of Emergency Funds in Retirement Planning
Nachrichten Ticker - www.finanzen.ch writes Gesetzesvorschlag in Arizona: Wird Bitcoin bald zur Staatsreserve?
Nachrichten Ticker - www.finanzen.ch writes So bewegen sich Bitcoin & Co. heute
Nachrichten Ticker - www.finanzen.ch writes Aktueller Marktbericht zu Bitcoin & Co.
On 30 April 2021, Switzerland’s Federal Statistical Office released salary data for 2020 which showed a 1.5% rise in real salaries compared to 2019.
In 2020, a 0.8% rise in nominal salaries was boosted by inflation of -0.7% bringing the total increase in the real average Swiss salary to 1.5%. The last time salaries rose this much was in 2015 when the real increase was 1.5%.
In both 2015 and 2020 negative inflation of -1.1% and -0.7% significantly boosted nominal increases of +0.4% and +0.8%.
In 2020, the jump in salaries was not uniform across all sectors. In some areas the real salary increase in 2020 was as high as 3.4% (information technology). At the other end, average real salaries in insurance sank by 1.4%. Other sectors with above average real salary rises included science and technology (+3.4%), metal working (+2.9%), automotive sales and repair (+2.8%), digital communication (+2.7%), health (+2.4%), retail (+1.9%) and administration and support (+1.6%) – salary increases by sector.
More on this:
Federal statistical office data (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.
You Might Also Like
Weekly SNB Sight Deposits and Speculative Positions: SNB buying euros at high prices
2021-04-26
Update April 26 2021: SNB intervening. Sight Deposits have risen by +0.2 bn CHF, this means that the SNB is intervening and buying Euros and Dollars: The change is +0.2 bn. compared to last week.
Minimum wage hurting young people in Swiss canton
2021-04-16
Around three years ago, the Swiss canton of Jura introduced a minimum wage of CHF 20 an hour (US$ 21.65). Now there is political pressure relook at the move, according to RTS.
Swiss bankruptcies fell by 7 percent in 2020
2021-04-11
In 2020, the Covid-19 pandemic hit the Swiss economy. GDP fell by 2.9% compared to 2019. However, despite the fall in economic output the number of bankruptcies fell by 6.7% compared to 2019.
Farming lobby hurting Swiss chocolate sector, says industry association
2021-03-14
Swiss chocolate sales went into steep decline in 2020, according to ChocoSuisse, Switzerland’s chocolate industry association. The amount of chocolate produced in Switzerland in 2020 was 10% lower than in 2019 and sales revenue was down by 14.5%, a sharp drop.
Swiss parliament demands cabinet reopen restaurants and theatres
2021-03-06
A recent parliamentary vote on whether to issue a formal request to the Federal Council, Switzerland’s executive, to reopen restaurants on 22 March 2021, found a majority of 97 to 90, according to Le Matin.
Vaccine delays costing Switzerland up to 100 million francs a day
2021-02-06
A recent study by Swiss National COVID-19 Science Task Force calculates that vaccination delays are reducing Switzerland’s national output (GDP) by between CHF 50 – 100 million per day, according to RTS.
Swiss Inflation turns negative in 2020
2021-01-17
During 2020, average annual inflation was –0.7%, according to Switzerland’s Federal Statistical Office (FSO). In December 2020, Switzerland’s consumer price index (CPI) fell by 0.1% compared with November 2020. Compared to December 2019, prices in December 2020 were 0.8% lower. Annual inflation reached -0.7% across the full year.
Company bankruptcies fell sharply in Switzerland in 2020
2021-01-09
Despite the economic impacts of the coronavirus, significantly fewer Swiss companies went bankrupt in 2020 than the year before, according to the business data company Bisnode.
Tags: Featured,newsletter