Purchasing power in Switzerland is likely to remain under pressure next year. Companies surveyed by UBS want to pay their employees more wages for 2024, but higher salaries cannot compensate for the inflation.
This content was published on
1 minute
Keystone-SDA
Specifically, the 389 companies surveyed as well as employer and employee associations expect an average wage increase of 1.9% for 2024.
Taking into account inflation expected at around 2%, real wages are therefore unlikely to rise next year, according to the conclusion published on Wednesday Salary survey by the major bank UBS.
“The majority of companies grant compensation for inflation, but rarely go beyond that,” says UBS economist Florian Germanier, summarizing the survey results. Real wages are therefore likely to practically stagnate on average in 2024.
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles. You can find them here.
If you want to know more about how we work, have a look here, and if you have feedback on this news story please write to english@swissinfo.ch.
External Content
Your subscription could not be saved. Please try again.
Almost finished… We need to confirm your email address. To complete the subscription process, please click the link in the email we just sent you.
Popular Stories
More
Aging society
No house generation: the impossibility of buying property in Switzerland
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
Living longer: What do you think about the longevity trend?
The longevity market is booming thanks in part to advances in the science of ageing. What do you think of the idea of significantly extending human lifespan?
Significantly more civil aviation incidents logged in Switzerland
This content was published on
Switzerland saw around 20% more commercial and recreational aviation safety incidents reported to the Federal Office of Civil Aviation.
St Moritz most expensive Swiss address for luxury homes
This content was published on
St Moritz is the most expensive Swiss municipality for luxury real estate, with square metre costs starting at around CHF43,000.
Geneva university Palestinian demonstration ongoing
This content was published on
University of Geneva continues to prohibit access to areas occupied by members of the Student Coordination for Palestine group.
This content was published on
United States companies expanded their operations in Switzerland at a much higher rate than European counterparts last year.
This content was published on
Switzerland approves five electricity reserve plants powered by CO₂ neutral fuel, with a total capacity of 583 megawatts.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.