At 20-year low
That’s why the Swiss job market has dried up so much
The situation on the Swiss labor market is better than it has been for two decades. Now companies even have trouble finding unskilled workers.
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The unemployment rate in Switzerland is the lowest it has been in 20 years. On average, 99,577 people were unemployed last year.
Ulrich Rotzingereconomic chief
If companies can no longer fill vacancies, even for unqualified people, there will be practically full employment. According to the State Secretariat for Economic Affairs (Seco), the labor supply in Switzerland has not been as tight as it was last year for decades.
The average number of unemployed for 2022 was 99,577 people. This results in an unemployment rate of 2.2 percent. This is the lowest rate in over 20 years.
What are the reasons for the extremely good condition of the Swiss labor market? Marco Salvi (53), labor market expert at the liberal think tank Avenir Suisse, locates them in the intact economic growth and catch-up potential of companies: “The main reason is certainly the unexpectedly rapid recovery after the end of the pandemic.”
Specialists are in a better position than companies
In addition, the decentralized organization of unemployment services helps. “This means that jobs are placed where they are needed,” says Salvi. However, this does not solve the acute shortage of skilled workers. According to data from the Federal Statistical Office, 30 percent of companies have difficulty recruiting workers with higher professional qualifications. It is similarly difficult to find people with a university degree or a completed apprenticeship.
This plays into the hands of the specialists they are looking for. At work, they have more leeway when it comes to salary demands or they benefit from special benefits such as more holidays. And instead of laying people off, companies prefer to try – if necessary – to tighten the cost screws in other areas.