At the same time, trade unions complained that wages were too low for many workers and demanded more pay.
On Monday, the State Secretariat for Economic affairs (Seco) said the jobless rate fell from 3% in 2021 to 2.2% last year.
This corresponds to 99,577 people registered as out of work on average each month. The number of jobless people and those already in employment seeking a new position also decreased to 175,549 but there are signs of this rate picking up in January.
The amount of money given out by the state to compensate for shortened working hours was CHF366 million ($394 million) in 2022, significantly down on the CHF4.9 billion paid out during the pandemic year of 2021.
“With the economic recovery and falling unemployment, it become increasingly difficult for companies to attract workers over the course of 2022,” stated Seco.
However, the Swiss Trade Union Federation complained on Monday that wage rises are not keeping up with inflation, which weighed in at 2.8% last year.
Unions called for a minimum wage of CHF5,000 per month for workers who had been through an apprenticeship and at least CHF4,500 for all people in work.
The Federation also called on the government to put the brakes on health insurance hikes that will rise 6.6% this year.
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Looking ahead: Switzerland’s economic outlook for 2023
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Our economic journalists outline the major developments awaiting the Swiss economy.
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By 8am on Saturday, an 11-kilometre queue had formed at the Gotthard tunnel’s northern entrance, with drivers facing nearly two hours of delays.
Plant-based meat market in Switzerland set to grow to CHF361 million by 2030
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Switzerland’s market for plant-based meat alternatives has a potential value of around CHF 242 million this year, though it remains a niche market.
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The army is looking for a modern solution for its decommissioned fortress mortar bunkers, with plans to turn them into hardened defence hubs.
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Spain ended Switzerland’s run in the Women’s Euros on Friday, but fans in Bern made history with the largest supporters’ march in Women’s Euros history.
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Solar energy pioneer Raphaël Domjan and his team continued preparations for the altitude record attempt at 10,000 metres with the SolarStratos solar aircraft.
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Cattle in the canton of Geneva and in the neighbouring region of Terre Sainte in the canton of Vaud are being vaccinated against the contagious viral skin nodule disease. The first cases of the animal disease were reported at the end of June in France, just outside Geneva.
Fewer attacks on Swiss ATMs but their future remains uncertain
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Bank ATMs in Switzerland are less prone to attacks by criminals, but their future remains uncertain given the less active use of cash by the population.
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A series of rockfalls occurred above the village of Brienz between 9 and 12 July. According to the municipality of Albula, the overall situation remains tense. Several people disregarded the ban on entering the area around the village.
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Arosa Bergbahnen achieved the highest figure in its 95-year history in the 2024/25 financial year with net revenue of CHF 37 million. Arosa Lenzerheide was able to capitalise on strengths such as snow reliability and the size of the ski area in a long winter season, the company announced on Thursday.
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Swiss firms facing unprecedented talent crunch
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Businesses in Switzerland are being forced to cope with an historic shortage of highly skilled workers, according to an annual jobs survey.
Unions call for 4-5% wage increase amid rising inflation
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Swiss trade unions are calling on employers to increase real wages in response to rising inflation and higher energy prices.
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Growth forecasts for Switzerland have been revised downwards for the current year and 2023 by the KOF Swiss Economic Institute.
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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.