Wages in Switzerland are not keeping pace with inflation, and in 2022 the purchasing power of employees has dropped significantly. This has led to the highest loss in real wages for Swiss workers in 80 years.
This content was published on
2 minutes
swissinfo.ch/ts
Português
pt
Suíços enfrentam a maior perda de poder de compra desde 1942
On average, Swiss companies plan to increase nominal wages by 2.2% in 2023 – the highest increase in almost 15 years – according to a wage surveyExternal link by Swiss bank UBS published on Tuesday. However, real wages are likely to stagnate next year and will hardly make up for this year’s loss in purchasing power.
This is due to the expected sharp downturn in the Swiss economy and a moderation in inflation. However, real wage increases can be expected again in the longer term due to growing labour shortages.
More
Salaries in Switzerland
The cost of living in Switzerland is among the highest in the world, but workers also earn among the highest salaries.
A nominal wage increase is expected in both 2022 and 2023 for each of the 22 sectors covered. According to the survey, the highest wage agreements of 3% are recorded in the wholesale trade, IT, and telecommunications sectors, along with the area of watches and jewellery.
Employees in the tourism and hospitality sectors, which are benefiting from a strong post-pandemic recovery, will be pleased to see a likely salary increase of 3%. The metals and textiles industries, along with the media sector, among others, bring up the rear in this year’s wage negotiations. Nonetheless, these three sectors should also see a robust nominal wage growth of around 2%, the survey said.
UBS economists are forecasting inflation of 2.9% this year, which translates into an average real wage loss of 1.8% – the sharpest decline since 1942.
More
What is a good average salary in Switzerland?
If you are a male banker, a Swiss diplomat or a foreign CEO in Switzerland, chances are you are living quite comfortably.
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
Switzerland to give millions to three UN organisations
This content was published on
Switzerland is supporting Unicef, UN Women and the UN Population Fund this year with a total of CHF39 million ($47 million).
Electricity reserves still needed in Switzerland in midterm
This content was published on
Switzerland's energy supply remains uncertain. Electricity reserves are still needed in the medium term, the Federal Electricity Commission (ElCom) said.
ICRC says next few days will be ‘decisive’ for aid to Gaza
This content was published on
The next few days will be absolutely decisive if the Geneva-based International Committee of the Red Cross (ICRC) to continue providing aid in the Gaza Strip, said its director-general Pierre Krähenbühl.
Switzerland unveils a national drought-detection system
This content was published on
Switzerland launched on Thursday a new national system for detecting drought and warning the population and authorities in advance.
Federal coffers to get CHF100 million boost from Swiss Post
This content was published on
Swiss Post will pay a dividend of CHF100 million ($121 million) to the Confederation this year, the company announced on Thursday.
Swiss Federal Railways satisfied with bodycams for transport police
This content was published on
Since the introduction of body-worn cameras, the frequency of assaults on Swiss Federal Railways transport police has fallen by 25%.
Zurich cantonal government to compensate victims of forced labour
This content was published on
Victims of past forced labour measures in canton Zurich could soon apply to receive a one-off solidarity compensation of CHF25,000 ($30,255).
Risk of a real-estate bubble in Switzerland grew in first quarter
This content was published on
The risk of a bubble in the Swiss property market increased slightly in the first three months of the year compared with the previous quarter, says UBS.
French authorities order Nestlé to remove its filtration system
This content was published on
Authorities in the south of France have served formal notice to Nestlé Waters, a subsidiary of the Swiss food giant, to "withdraw within two months" its microfiltration system for its Perrier mineral water.
Switzerland says pushbacks at border by Germany are unlawful
This content was published on
Switzerland considers Germany's planned systematic pushbacks at the border to be contrary to existing law, the department of justice has said.
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.
Read more
More
Unions call for 4-5% wage increase amid rising inflation
This content was published on
Swiss trade unions are calling on employers to increase real wages in response to rising inflation and higher energy prices.
This content was published on
Following reader suggestions, we find out if most people calling Switzerland home can afford diamond rings and fur coats or are just making ends meet.
How far does CHF6,000 really get you in Switzerland?
This content was published on
When travelling abroad, especially to countries with much lower wages, the Swiss may immediately try to change the subject, or even lie shamelessly, when asked how much they earn. How to explain that your monthly income of CHF5,500 to CHF6,500 ($5,520 to $6,530) simply cannot be compared with the salaries earned by those around you? …
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.