The Swiss watch industry has retained staff in 2021
Keystone / Martin Ruetschi
The annual census of the Swiss watch industry labour force found that partial unemployment helped the industry weather the pandemic over the last year. The number of employees in the industry remained stable in 2021 while the share of high skilled staff increased.
There are just under 60,000 people working in the watchmaking industry in Switzerland, which is less than a 1% decrease from 2020. Partial unemployment enabled companies to adapt to the changing demand during the pandemic while keeping employees, according to the annual censusExternal link from the Employers’ Convention of the Watchmaking Industry. The 2020 census results showed the share of employees in the sector fell by 2.6% due to adverse economic effects of the Covid-19 pandemic.
Partial unemployment benefits help cover the shortfall if an employer needs to cut back in labour hours. This can prevent layoffs. It was used frequently during earlier waves of the Covid-19 pandemic when many businesses had to close their doors temporarily under the partial lockdown.
The sector is also attracting more highly skilled individuals with a 3.4% increase in the number of people with higher education qualification in the last year. The proportion of qualified staff now represents 70% of the total workforce, according to a press statement.
The top three watchmaking cantons in terms of staff numbers remain Neuchatel (15,063), Bern (12,301) and Geneva (10,499). These three cantons, together with Jura, Vaud and Solothurn, make up the “watchmaking arc”, which represents 92% of total employees.
The flagship of Swiss industry, which sells nearly 95% of its products abroad, experienced a 22% drop in exports in 2020, comparable to the recession that followed the financial crisis in 2009.
Popular Stories
More
Climate adaptation
Why Switzerland is among the ten fastest-warming countries in the world
Has your continent reached its peak or is there still potential for economic growth?
Some regions of the world are on an upward trajectory with the promise of a steadily improving future. Where do you live? And in which direction is your region or continent developing?
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?
How the pandemic has widened inequalities in Swiss watchmaking
This content was published on
The economic shocks hitting the watchmaking industry in 2020 have widened the gap between the top brands and the rest of the industry.
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.