According to an article in the SonntagsZeitung paper on Sunday, the labour market is recovering faster from its April low than experts predicted.
A survey of 18,000 companies conducted by the Federal Statistical Office suggest that Switzerland will fare better than expected. Around 71% of the firms surveyed want to maintain their staffing levels in the third quarter of 2020 and nine percent want to increase them. Only seven percent intend to cut jobs which is lower than during the financial crisis of 2008: at the peak of the financial crisis in the first quarter of 2009, 12% of companies surveyed stated that they intended to cut jobs.
However, not all sectors have weathered the Covid-19 storm equally well. The most pessimistic are watchmakers, machinery manufacturers, the metal refiners, logistics firms, landlords and hoteliers. They want to reduce their workforce by an above-average amount of between 11% and 17%. The sectors least threatened by job cuts include banks, insurers, the health, social and education sectors and public administration.
Another indicator of recovery is the number of newly advertised jobs analysed by the data companies Novalytica and X28. Between June and August – i.e. since the easing of coronavirus restrictions – this has risen by more than 50% from 26,490 to 39,915. However, the number of vacancies is still clearly below last year’s level: In August, 15 percent fewer jobs were advertised than in August 2019.
Popular Stories
More
Multinational companies
Azeri fossil-fuel cash cow brings controversy to Switzerland
Is artificial intelligence an advantage or a disadvantage for workers?
What is your experience with AI at work? Have you already used it? Has it helped you work better? Or has it caused you more stress, more work or caused you to lose your job? Tell us about your experiences!
Swiss price watchdog slams excessive prices for generic medicines
This content was published on
The cheapest generic medicines available in Switzerland are more than twice as expensive as in other countries, according to a study by the Swiss price watchdog.
Nature should not figure in net zero calculations: academic study
This content was published on
The natural removal of CO2 from the atmosphere by forests or oceans should not be included in the net-zero balance of climate protection measures, argue researchers.
This content was published on
None of the 15 major Swiss retail banks is meeting international climate and biodiversity targets, according to a ranking by WWF Switzerland.
This content was published on
Nestlé's new CEO Laurent Freixe, has presented plans for the future of the world's largest food company, after his first few weeks in office.
Swiss foreign minister calls on Moscow to end Ukraine war
This content was published on
It's high time Moscow ended its war against Ukraine, Swiss foreign minister Ignazio Cassis tells the UN Security Council.
This content was published on
The only alternative to the UN Palestinian agency’s work in Gaza is to allow Israel to run services there, Philippe Lazzarini, UNRWA Commissioner-General, told reporters in Geneva on Monday.
Study reveals food culture differences between Switzerland and neighbours
This content was published on
Three-quarters of Swiss people consider eating to be a pleasurable, social activity, a new survey reveals. Healthy eating, however, plays a much less important role, it found.
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
More job cuts as Covid-19 hits business
This content was published on
More Swiss firms are announcing job cuts after the coronavirus crisis hit their business in the second quarter of the year.
Will Covid-19 jumpstart the ‘gig economy’ in Switzerland?
This content was published on
The so-called “gig economy” has taken off around the world, but Switzerland has always been lukewarm to the concept - until now?
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.