Retiring baby-boomers and a shifting job market could mean a shortfall of up to 500,000 workers in Switzerland over the next decade, UBS forecasts. The bank proposes plugging the hole not only by immigration, but also by boosting more old and female workers.
Basing its projections on long-term employment statistics, the bank says that the number of jobs to be filled could be anywhere between 300,000 and 500,000 over the next decade.
The shortfall will be driven by two major trends, UBS explainsExternal link: a lack of workers resulting from the retirement of the baby-boomer generation, and structural changes in the job market (i.e. some areas of employment disappearing, others emerging).
And whereas in the past such gaps were filled by immigration, this looks unlikely to be the solution this time, UBS says. The required net annual immigration of 100,000 would most probably “meet considerable political and social resistance”.
One option would therefore be to boost the participation of those not so active in the job market, the bank says. Some 80% of women work, for example, but 45% of them do so part-time. The opportunity to work more “may be attractive”, particularly for women whose children are no longer at school.
Older workers, especially in industries with jobs shortfalls, should be encouraged to work beyond the current retirement age of 65 (64 for women). This could be achieved by offering a more “flexible” pension age rather than a blanket increase in the retirement age, UBS says.
As for the changes coming down the road, “demand for workers may well continue rising in the health and care sectors, but could stagnate in the manufacturing industry”, the bank says.
Indeed, it reckons much of the demand for growth will come from traditionally female roles, while traditional male roles may decline. In this case, the bank says, a “serious rethink” will be needed: “In future, men will increasingly have to try their hand at traditionally female occupations”.
More
More
What will our jobs be like in the future?
This content was published on
At its annual conference this month, the ILO looked to the future at the rapid technological changes which are altering the way we work.
Bodycams: essential for good law enforcement, or a privacy risk?
Did you ever come across bodycams in your place of residence and if so, how do you think the use of bodycams alter the relationship between the public and (transport) police?
What can be done to protect biodiversity in your country?
Swiss voters are set to decide on a people’s initiative calling for better protection of ecosystems in the country. Have your say on the September 22 vote.
Swiss athletes grab marathon double gold at Paralympics
This content was published on
Catherine Debrunner won her fifth gold at the Paris Games with a victory in the women’s marathon on Sunday, while Marcel Hug took gold in the men’s.
Helicopter evacuations from Saas Valley to continue on Monday
This content was published on
Some 550 tourists were flown out of the Saas valley on Saturday. After further clearance work on Sunday, evacuations will resume on Monday.
Swiss government pensions come under pressure in parliament
This content was published on
A parliamentary committee is favour of scrapping the generous pensions enjoyed by former government ministers and federal judges.
This content was published on
Appointed in April as the EU's incoming ambassador, Slovak man Miroslav Lajčák will ultimately not take up the post in Bern this year.
SNB boss: as a leading financial hub, Swiss must accept risks
This content was published on
The outgoing head of the Swiss National Bank, Thomas Jordan, says the country should aim to preserve its leading financial position.
Top Swiss court rules against prostitution exclusion zone
This content was published on
The Federal Court ruled that a Swiss town went too far in banning prostitution within a 100-metre radius of certain sensitive locations.
First UN fact-finding report on Sudan released in Geneva
This content was published on
Numerous acts amounting to crimes against humanity and war crimes have been committed in Sudan, according to UN investigators.
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
Switzerland has second-most part-time workers in Europe
This content was published on
The latest figures from the Federal Statistical Office show that over a third of employees in Switzerland work less than 90%.
Planned pension reform sees women working a year longer
This content was published on
The Swiss government plans to incrementally increase the retirement age of women to 65 while offering incentives for all people to work longer.
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.