Friday , April 19 2024
Home / SNB & CHF / Pay rise agreed for Switzerland’s public sector workers

Pay rise agreed for Switzerland’s public sector workers

Summary:
© Robert Buchel | Dreamstime.com On 2 December 2022, Switzerland’s Federal Council agreed to boost the salaries of those working for the federal government by 2.5% in 2023. Inflation, which was 3% at the end of November 2022, has fuelled demands for higher pay. During negotiations, staff representatives pushed for a pay deal that fully made up for ...

Topics:
Investec considers the following as important: , , , , , ,

This could be interesting, too:

Vibhu Vikramaditya writes Navigating the Slippery Slope: How Hoover’s Interventions Paved the Way for the Great Depression

Ryan McMaken writes Frédéric Bastiat Was a Radical Opponent of War and Militarism

Douglas French writes Millennials: In Costco We Trust

Vasil Georgiev writes Luftfahrtindustrie: Rückblick auf 2023 und Prognose für 2024

Pay rise agreed for Switzerland’s public sector workers

© Robert Buchel | Dreamstime.com

On 2 December 2022, Switzerland’s Federal Council agreed to boost the salaries of those working for the federal government by 2.5% in 2023.

Inflation, which was 3% at the end of November 2022, has fuelled demands for higher pay.

During negotiations, staff representatives pushed for a pay deal that fully made up for inflation. However, finance minister Ueli Maurer pointed out that Switzerland’s already negative budget should be considered when deciding on pay increases and that full compensation for inflation was not possible.

Increased pay also risks increasing inflationary pressure by putting more money in pockets. In addition, an average public sector worker in Switzerland already earns significantly more than one in the private sector. On average, a full time job with the government was 26% better paid than a full time job in the private sector in Switzerland in 2020.

More on this:
Government press release (in French) – Take a 5 minute French test now

For more stories like this on Switzerland follow us on Facebook and Twitter.


Tags: ,,,,
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *