Slight increase in employment in Q4 2023

A person taking measurements at a construction site.

(20.03.2024) The Swiss labor market saw growth in 2023. In Q4 2023, non-agricultural businesses had 5.488 million positions. This represents a 1.7% increase annually and a 0.4% increase quarterly, according to the Federal Statistical Office (FSO).

The tertiary sector saw the creation of nearly 82,100 additional positions between the latter quarter of 2022 and the same period a year later, marking a 1.9% increase. Meanwhile, in the secondary sector (industry and construction), job numbers rose by 8,200 units, representing a 0.7% growth. Overall, a total of 90,300 new positions emerged between the end of 2022 and the end of 2023. When considering full-time equivalents, the growth in the tertiary sector amounted to 2% (+62,100), while the industrial sector experienced a 0.8% increase (+8,300). Furthermore, the number of vacant positions decreased by 9%, indicating 10,900 fewer jobs compared to the previous year.

Employment surged in all economic sectors except for construction (-0.5% / -1,700 positions). The category of "human health and social assistance" experienced the most significant growth (+3.5% / +28,900 positions), followed closely by education (+2.9% / +12,100 positions) and "accommodation and food services" (+2.6% / +6,700 positions).

The robust employment trend extended across all major regions, driven by the substantial growth in the service sector in the Lake Geneva region (+2.5%), Central Switzerland (+2.4%), and the Zurich region (+2%). However, slight declines in job numbers were observed in the industrial and construction sectors in two regions: Ticino (-0.7%) and Central Switzerland (-0.2%).

However, the forecasts for 2024 present a somewhat mixed picture. Only 12.5% of companies were planning to increase their staff by the end of 2023 (compared to 15.7% in 2022), while 4% anticipated a reduction (compared to 3.3% the previous year).

The challenges in recruiting qualified personnel have slightly decreased (-0.7 percentage points to 40%), particularly in the secondary sector (-2.9 percentage points to 48.3%).


Last modification 20.03.2024

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