(01.02.2023) The economic downturn has not affected the demand for labor. The Swiss Job Market Index, published by the Adecco Group and the University of Zurich, shows that Swiss companies are still looking to hire, with an increase of 23% in 2022.
After a slowdown in the third quarter of 2022 due to economic uncertainties, the Swiss labor market index rose by 5% in the fourth quarter. This marks a new record high compared to the previous quarter. Year-on-year, the index rose by 13% in the fourth quarter.
Despite the prospect of a slightly improved economic climate, the forecast for 2023 remains generally tepid. However, the index shows that the labor market is still strong. According to Marcel Keller, Swiss market manager at Adecco, the end of the health restrictions in spring 2022 and the strong domestic demand for office and administrative specialists are helping to fuel overall employment growth, despite the unfavorable economic climate abroad.
The "skilled service and sales personel" category shows the strongest increase (+47%), followed by "skilled office and administrative personel" (+34%), "skilled trade and support personel" (+28%) and "academic economics and social affairs professions" (+25%). With a decline of 8%, managers are less in demand than in 2021. This job category has not yet recovered from the downturn during the pandemic.
In terms of region, the best performances came from Eastern Switzerland (+39%), the Espace Mittelland (+38%) and Zurich (+27%). South-Western Switzerland (+19%) and Central Switzerland (+12%), on the other hand, recorded an increase, albeit less marked than in the country as a whole (+23%). Northwestern Switzerland is the only region to see a decline in the index (-3%).
Last modification 01.02.2023
