The Covid-19 pandemic is driving down wages in Switzerland: 34% of the population have seen their incomes drop in 2020 due to the coronavirus, either because of short-time work or as a result of being laid off.
The data, reported by Sunday newspaper Le Matin Dimanche, emerge from a survey conducted in 24 countries by collection company Intrum. Faced with this situation, one in five Swiss (19%) were forced to postpone the payment of at least one invoice – a figure higher than that reported in a similar survey in 2018, when the percentage was 14.6%.
“With the second wave of the pandemic and perhaps a third one coming in the spring, as well as drastic new measures taken by the federal government and the cantons, we can expect unemployment to rise at the end of the year, a phenomenon that will go hand in hand with further job losses,” Daniel Lampart, chief economist at the Swiss Trade Union Federation, told Le Matin Dimanche. “This will hurt a lot,” he pointed out.
Almost a quarter (24%) of the people surveyed in Switzerland said they feared an additional decline in the near future.
Last month the government agreed to extend the short-time working compensation and unemployment benefits. A bill to parliament foresees financial support for employees with fixed-term contracts, including apprentices.
More
More
Coronavirus: the situation in Switzerland
This content was published on
An overview of the latest Covid-related information in the Alpine nation.
This content was published on
The Swiss government wants boost an emergency fund for companies hard hit by the Covid-19 restrictions and grant aid to sports clubs.
Swiss invention: 90-year anniversary of first T-bar ski lift
This content was published on
On Monday it will be 90 years since the world’s first T-bar ski lift went into service in Davos. This Swiss invention was an instant success.
Iran summons Swiss ambassador over US and Italy arrests
This content was published on
Iran has summoned the Swiss ambassador, who represents US interests, to protest against the arrest in the US and Italy of two Iranians.
Swisscom receives greenlight for acquisition of Vodafone Italia
This content was published on
The takeover of Vodafone Italia by Swisscom is nearing completion. All relevant authorities have now approved the €8 billion (CHF7.45 billion) deal.
Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed
This content was published on
The Danish pharmaceutical giant, Novo Nordisk, faced setbacks on Friday that weighed on the share price of Swiss injection device manufacturer Ypsomed.
Swiss press react to EU deal with mix of euphoria and scepticism
This content was published on
Swiss media reaction to the agreement between Switzerland and the EU varies widely. Some are celebrating, while others worry about what is to come.
Swiss Solidarity donations to tackle child abuse top CHF4 million
This content was published on
Swiss Solidarity, the humanitarian arm of the Swiss Broadcasting Corporation (SBC), has raised over CHF4 million ($4.3 million) to tackle child abuse.
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
New anti-corona measures: restaurants closed, ski areas open
This content was published on
Switzerland to close restaurants, bars for a month from Tuesday to curb the spread of the coronavirus, ski areas remain open, the government says.
This content was published on
The Swiss-run International Committee of the Red Cross (ICRC) will cut 95 posts owing to financial pressures linked to the Covid-19 pandemic.
This content was published on
The latest work figures show that 85,000 fewer people are employed now than at the same time in 2019 – the biggest decline since 1993.
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.