Home » Swiss labor market – employment grows again in the final quarter of 2023 – News

Swiss labor market – employment grows again in the final quarter of 2023 – News

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Swiss labor market – employment grows again in the final quarter of 2023 – News

According to a statement from the Federal Statistical Office (BFS), employment in Switzerland was positive at the end of 2023. Accordingly, more jobs were created again in the fourth quarter of 2023. Although the outlook remains positive, the assessment of future developments was somewhat more cautious.

The number of jobs increased by 1.7 percent to a total of 5,488 million employees in the reporting quarter compared to the same period last year, as the BFS announced.

It is the eleventh increase in a row. Employment increased by 0.7 percent (1,130 million jobs) in the secondary sector (industry and construction) and by 1.9 percent (4,358 million jobs) in the tertiary sector (services). Translated into full-time positions, the employment volume reached 4,264 million positions (+1.7 percent). That’s 70,400 more than a year ago.

Legend: According to the BFS, the number of jobs increased by 1.7 percent to a total of 5,488 million employees in the reporting quarter compared to the same period last year. Keystone/CHRISTIAN BEUTLER

Seasonally adjusted and compared to the previous quarter, the number of employees in companies only increased by 0.4 percent. In addition, companies are less optimistic about the future. The indicator for employment prospects fell again compared to the previous year, by 2.1 percent to a value of 1.05. According to the announcement, 12.5 percent of the 18,000 respondents want to expand, 4 percent want to cut back and the rest expect the number of employees to remain the same.

Search for skilled workers

Recruiting skilled workers has now become somewhat easier across all business areas. The corresponding value fell by 0.7 percentage points to 40 percent. This means that the companies that reported difficulties recruiting in the survey make up 40 percent of the total number of employees.

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The number of advertised positions at banks continues to fall

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The job vacancies at the ten largest Swiss banks fell further in February. A total of 885 positions are currently being sought on the financial institutions’ websites. The number of job advertisements is 3.1 percent lower than in January.

Since the announcement of the takeover of Credit Suisse by UBS, the number of open bank offices has only been lower than now during the summer slump in August. The figures from the job portal Indeed, which counts the jobs advertised on the websites of the ten largest Swiss banks every month for the news agency AWP, also show that there are currently fewer jobs available, particularly at UBS and Credit Suisse, which is still managed separately.

The number of job advertisements on the websites of UBS and Credit Suisse fell by almost 6 and 16 percent respectively. It is not surprising that CS is still looking for staff. Because it will take a while, especially operationally, until it is integrated into UBS. In its February analysis, the job portal Indeed counted 128 job advertisements at Credit Suisse and 201 at UBS.

The Raiffeisen Group has almost as many jobs advertised on its website as UBS with 199 job advertisements. Compared to the previous month, the number of positions available at Raiffeisen actually increased slightly. Postfinance also advertised more positions than in January.

The statisticians attribute the decline primarily to industry and the construction sector, where the difficulties in finding qualified personnel have decreased, especially in the mechanical engineering sector. However, it is said that skilled workers are still difficult to find compared to history. According to the information, the problems in finding staff increased the most in public administration.

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