Swiss companies are hardly inclined to make concessions in the run-up to next year’s wage negotiations. The 4,500 or so companies that took part in the quarterly survey conducted by the Zurich-based Centre for Economic Research (KOF) are expecting average pay rises of 1.6%, which is right in line with their inflation expectations for the next 12 months.
These figures confirm those of a previous KOF survey of the same companies, which in May predicted inflation over twelve months of 1.6% and wage increases of the same magnitude in 2025. In January, employers’ associations were still considering raising wages by 1.8%.
For its part, the KOF reiterates its forecast of 1.0% inflation over the next year, which would leave employees with a 0.6% pay rise.
With a chronic shortage of staff, the hotel and catering sector is expected to lead the way in terms of pay rises, with average expectations of around 2.7%. Knowledge-intensive services such as information and communication (1.8%) should also be among the most generous to their employees.
Retail trade (1.1%), wholesale trade (1.2%), the manufacture of electrical equipment (also 1.2%) and mechanical engineering (1.3%), on the other hand, prefer to remain cautious, notwithstanding a slight upturn in the European economy. Employees in the health and social services sector (1.3%) are also likely to see their real wages contract.
Adapted from German by DeepL/ac
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