Excellent grade for the Swiss labor market

Swiss Statistics released the Labor Market Indicators for 2015. Switzerland is doing better than most of the other European countries.

The Labor Market Indicators for 2015 are rather encouraging. Switzerland currently has one of the highest economic activity rates in Europe. Both women’s participation in the labour market and the proportion of employed persons working part-time are markedly higher in Switzerland than in most European countries. Switzerland’s unemployment rate based on the ILO definition is around half (4.4% in the second quarter of 2014) the average rate in the European Union EU-28 (10.1%), with only Norway registering a lower unemployment rate (3.3%). Wages in Switzerland converted into Euros are higher than in other European countries, reflecting the country’s high levels of prosperity and output.

Another positive takeaway from the report is that in the 1st quarter 2015, the number of jobs and employed persons rose compared with the same quarter a year earlier. The short-term indicators from the Job Statistics suggest that the number of employees will rise overall in the next quarter or at least remain stable.

In addition to the above, Switzerland ranked high in the latest international comparison of worker motivation from IMD (1st) as well as the international comparison of labor productivity from the Conference Board (4th). There is no doubt that these factors contribute to a healthy labor market.

For more information, please refer to chapter 8 of the Handbook for Investors (Labor Market and Labor Law).

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