by The pool of Swiss IT specialists is almost dry © Keystone / Christian Beutler The Swiss economy has recovered well from the Covid-19 crisis, but despite the free movement of people agreement with the EU, some sectors are struggling to recruit qualified staff, says a government report. The unemployment rate in spring 2022 returned to its pre-pandemic level for both Swiss and foreign employees, according to the 18th report of the Observatory on the Free Movement of Persons between Switzerland and Europe, published on ThursdayExternal link by the State Secretariat for Economic Affairs (SECO). SECO focused on the IT sector, which it said had experienced particularly strong growth in recent years thanks to the digitalisation of the economy. The unemployment rate in the
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?
Connor O'Keeffe writes The Establishment’s “Principles” Are Fake
Per Bylund writes Bitcoiners’ Guide to Austrian Economics
Ron Paul writes What Are We Doing in Syria?
The pool of Swiss IT specialists is almost dry © Keystone / Christian Beutler
The Swiss economy has recovered well from the Covid-19 crisis, but despite the free movement of people agreement with the EU, some sectors are struggling to recruit qualified staff, says a government report.
The unemployment rate in spring 2022 returned to its pre-pandemic level for both Swiss and foreign employees, according to the 18th report of the Observatory on the Free Movement of Persons between Switzerland and Europe, published on ThursdayExternal link by the State Secretariat for Economic Affairs (SECO).
SECO focused on the IT sector, which it said had experienced particularly strong growth in recent years thanks to the digitalisation of the economy. The unemployment rate in the sector is very low (1.6%) and the pool of Swiss IT specialists is almost dry. Foreigners account for almost a third of the workforce, compared with 26% for the economy as a whole, it said.
SECO added that foreign immigration has made a significant contribution to meeting the demand for qualified personnel. What’s more, it’s often not possible to meet recruitment needs by hiring people from the EU within the framework of the free movement of people agreement.
Digitalisation is continuing and the need for specialists is high, SECO said, noting that demand is also increasing abroad and competition may become more intense. In these cases, immigration from third countries – such as the US, the UK or India – via the quota system is particularly important in order to attract those from further afield.
Good recovery
For SECO, recruitment difficulties are also an indication that the Swiss economy is doing well. The report concludes that the economy has recovered from the Covid crisis.
EU, EFTA and third-country nationals were meanwhile over-represented in the sectors particularly affected by pandemic restriction measures. They therefore felt the effects of the crisis more than the native population, SECO notes. Especially during the first months of the pandemic in 2020, the unemployment rate rose more sharply for foreigners than for Swiss.
On Thursday SECO also revealed that at the end of June 92,511 people were registered as unemployed, the lowest figure for 20 years.
You Might Also Like
Switzerland details revenue split for global corporate tax rate
2022-06-25
Switzerland will implement from 2024 the minimum tax rate for large multinational firms under a global tax deal. The federal government will get a quarter and regional and local authorities three-quarters of revenue, it said on Thursday, outlining how the deal would be implemented.
US tax authority asks Switzerland for client data from 26 institutions
2022-06-15
The US tax authority IRS wants further information from the Swiss authorities on account data at 26 financial institutions. The IRS has made numerous requests for information in the past.
Sustainable investments boom in Switzerland
2022-06-09
The volume of sustainable investments in Switzerland increased by almost a third last year, reaching an all-time high of CHF1.98 trillion ($2 trillion).
China stalling on trade talks with Switzerland, say papers
2022-05-31
Switzerland wants to update its 2014 free trade agreement with China, but Beijing refuses to talk, owing to criticism of its human rights record, report the NZZ am Sonntag and SonntagsBlick newspapers.
Energy prices: government considers measures to help households
2022-04-23
The Swiss government has set up a working group to examine whether measures are needed to relieve the burden on households caused by rising energy prices.
Easter march through Bern addresses war in Ukraine
2022-04-21
The traditional Easter march has taken place in the Swiss capital, Bern. This year the “Walk for Peace” focused on issues including the climate and Russia’s invasion of Ukraine.
Ukrainian refugees can benefit Swiss economy, says expert
2022-04-06
Switzerland can cope with a large number of Ukrainian refugees, and their skills can benefit the economy, says migration expert Thomas Kessler. “The Ukrainian women will provide new impetus in this country,” he told the SonntagsBlick newspaper. “Especially in the IT sector, the Ukrainians are more advanced than Switzerland. In addition, it is normal in Ukraine for women to study natural sciences.”
Switzerland slaps more sanctions on Russia
2022-04-01
The Swiss government on Friday adopted additional sanctions against Russia for its ongoing war in Ukraine but did not ban the Russian state TV channels Sputnik and Russia Today like the European Union.
Tags: Featured,Latest news,newsletter