Tag Archives: Business & Economy

On 10 November 2022, Switzerland and the UK, two nations outside the EU, signed an agreement deepening the relationship between the two nations’ research and innovation communities. Photo by Pixabay on Pexels.comThe agreement was signed by UK Minister of State for Science, Research and Innovation, George Freeman MP, alongside Federal Councillor Parmelin, Head of Switzerland’s Federal Department of Economic Affairs, Education and Research, at a ceremony in London. According to the UK...

Switzerland’s consumer price index (CPI) remained stable in October 2022 compared with the previous month, reported Switzerland’s Federal Statistical Office (FSO) this week. Photo by Polina Tankilevitch on Pexels.comThis left year-on-year inflation at the end of October 2022 at 3%, the same level that it was at the end of September 2022. The stability of the index compared with the previous month is due to opposing trends that counterbalanced each other overall. Prices for gas, heating...

Across most of Switzerland there is no minimum wage. However, the cantons of Neuchâtel (CHF 20 per hour), Geneva (CHF 23 per hour), Jura, Ticino and Basel-City have them. This week, a federal parliamentary commission voted in favour of challenging the applicability of these minimum wages, reported RTS. Photo by Life Of Pix on Pexels.comIf a national negotiation between employers and unions reaches a national deal on wages that is lower than the cantonal minimum it creates a disconnect....

At the end of 2021, Swiss employment-based pensions fund in aggregate held assets worth 18.5% more than what they owed. By 30 September 2022, they owed 0.5% more than they held in assets, according to government data published recently. Switzerland has a three layered pension system. The first layer is a state pension, known as AVS/AHV, which is funded by social security taxes on earnings. The second, known as the second pillar, is a private pension pot funded by compulsory salary...

The consumption of electricity in Switzerland in September 2022 was 13% lower the the same month last year, according to grid manager Swissgrid, reported RTS. Photo by Castorly Stock on Pexels.comThe combined electricity consumption of Swiss businesses and households in September 2022 was lower that the 7-year average for the month, suggesting that the federal government campaign to encourage lower consumption was working. However, another explanation is the unusually warm weather...

In 2021, 82% of mothers in Switzerland were economically active, according to data published by the Federal Statistical Office (FSO) this week. Photo by Karolina Grabowska on Pexels.comThe rate of mothers working in 2021 (82%) was 22 percentage points higher than it was in 1991 (60%). At the same time fathers were not working at a significantly lower rate. In 2021, 97% of fathers with children aged 15 or under were in the workforce, compared to 99% in 1991. Two working parents has become...

After a roughly CHF 40 billion blow to Swiss public finances due to the Covid pandemic, Switzerland’s financial outlook is beginning to look positive, according to a recent government press release. © Photo4dreams | Dreamstime.comFigures from the Federal Finance Administration (FFA) forecast a surplus of CHF 1.5 billion in 2022, an amount equivalent to 0.2% of GDP. In 2023, a government surplus of CHF 0.6% of GDP is forecast. Government expenditure in Switzerland is expected to be...

On 7 March 2021, a vote to ban face covering at a federal level was accepted by 51.2% of Swiss voters. Since then the government has been working on implementing the decision. This week it presented the details. © Photographerlondon | Dreamstime.comAfter the latest consultation on the subject the Federal Council decided on Wednesday on a maximum fine of CHF 1,000 instead of the original recommendation of CHF 10,000, which was considered excessive by some politicians. The new proposed...

Statistics published this week by the Federal Statistical Office (FSO), show that 70.1% of homes in Switzerland are heated by burning either mazout (heating oil), gas or wood. Photo by tony samia on Pexels.comAcross Switzerland 40.7% of homes are heated with mazout or heating oil. A further 17.6% are heated by burning gas and 11.8% by burning wood. These high greenhouse gas producing sources of heat account for 70.1% of the total. Add to this additional undisclosed emissions included in...

In September 2022, Switzerland’s consumer price index (CPI) fell by 0.2% compared with the previous month, according to data from Switzerland’s Federal Statistical Office (FSO). Photo by Erik Mclean on Pexels.comThe 0.2% month-on-month fall was due to falling prices for fuels, heating oil, hotels and related accommodation. Falls in the prices of these items were offset by higher clothing and footwear prices. Monthly deflation left the year-on-year inflation rate at 3.3% compared to a...