(14.02.2024) The unfavorable economic situation is weighing on the labor market. According to the Swiss Job Market Index published by the Adecco Group and the University of Zurich, the growth rate of job offers rose by 3% on an annual basis, compared to 23% the previous year.
The job market notably contracted during the fourth quarter of 2023, recording a decline of 3% compared to the same quarter of the previous year, and 4% compared to the previous quarter.
According to Marcel Keller, head of the Swiss market at Adecco, the slowdown in employment growth and the rise in the unemployment rate seem to indicate that the dynamics of development in the Swiss labor market are weakening. However, the number of vacancies remains historically high, while the unemployment rate remains relatively low.
Furthermore, analysis of the job market reveals significant disparities between different professional categories. "Craftsmen and auxiliary specialists" (+13%), "service and sales specialists" (+12%), and "technical specialists" (+10%) showed a significantly higher increase than the average. In contrast, the "executive" category experienced a sharp decline of 12%, which can be explained partly by employers' tendency to favor horizontal organizational structures and increasingly resort to informal networks for hiring. "Office and administration specialists" experienced a 7% decline, while "MINT and healthcare university professions" recorded a slight decrease of 3%.
The employment trend also varies from one region to another. The Northwest region of the country shows a growth of 14%. The Mittelland area (+7%) and Central Switzerland (+5%) also experienced employment market growth in 2023, while the Zurich region (-1%) and the Lake Geneva basin (-4%) recorded a slight contraction.
Last modification 14.02.2024
