Survey: Swiss labour market remains in good shape
The Swiss job market is expected to weaken slightly at the start of this year, but overall it should perform well in the coming quarters, economists predict.
The Swiss Institute for Economic Research (KOF) Employment Indicator fell slightly in the first quarter of 2024 compared with the previous quarter, it reported on Monday.
However, the situation on the Swiss labour market remains positive, said KOF experts from the institute that belongs to the federal technology institute ETH Zurich.
It noted that most survey respondents “still consider their current staffing levels to be too low”.
+ Swiss job market growth expected to slow down
“The indicator for the current and coming quarters suggests that employment in Switzerland will remain strong,” it added.
But most manufacturing businesses surveyed said that their current staffing levels were too high and that they were planning to reduce their workforces over the coming months. The employment outlook for this sector over the next three months has continued to deteriorate since the previous quarter.
+ Swiss unemployment rate at lowest level since 2001
The retail trade, hotels and catering, and insurance sectors also face a deteriorating outlook in the coming quarters, the KOF survey said.
The survey is based on the replies of around 4,500 companies asked in January 2024 about their employment plans.
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