Swiss job market faces drop in vacancies
Economic downturn is taking its toll on the Swiss job market. Job vacancies in 2024 dropped by 10% compared to the previous year, according to Adecco’s Swiss Job Market Index. This marks the first negative annual balance since the Covid-19 pandemic.
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The drop was especially sharp in the fourth quarter of 2024, with 13% fewer ads posted compared to the same period last year, according to the index compiled by Adecco and the University of Zurich’s Job Market Monitor, released on Tuesday.
The drop in demand for skilled workers is causing a decline in job vacancies across all sectors. However, the biggest hit was in the so-called ‘MINT’ professions (mathematics, computer science, natural sciences, technology) and the healthcare sector, which saw a 19% drop in vacancies. This is a significant increase from the 3% decline in 2023.
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The main drivers of this decline were the reduced demand for software developers and analysts. “The drop in demand for IT professions could signal long-term shifts due to technological changes, particularly artificial intelligence,” explains Johanna Bolli-Kemper from the University of Zurich’s Job Market Monitor.
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Additionally, the low number of vacancies for specialists in Information and Communications Technology (ICT), databases and networks, doctors, nurses, and civil and environmental engineers has also contributed to the decline in 2024.
Zurich hard hit by job vacancies drop
In contrast, managers, craftsmen, and unskilled workers saw the smallest decline in job vacancies in 2024, at just 3%. Executive vacancies have been decreasing since 2020, while craftsmen and unskilled workers recorded the second highest number of vacancies in Switzerland.
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Despite this, the total number of vacancies remains above pre-pandemic levels and the national average, according to Adecco.
Geographically, the negative trend in the Swiss job market hit all major regions in 2024. Zurich was particularly hard hit, with vacancies down by 15%, closely followed by the large Espace Mittelland region at 14%. Central and Northwestern Switzerland saw slightly smaller declines of 9%. The least affected regions were Eastern Switzerland (3%) and Southwestern Switzerland (2%).
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