Categorized | Miscellaneous

Shortage of workers – Foreigners to the rescue !

Posted on 27 October 2007 by LegalBeagle

Switzerland and the Swiss economy several needs highly qualified professionals from around the world to staff its high tech industries.

And the quota of working permits for foreigners from outside of the European Union is expected to run out in less than one week.

In order to deal with the shortage of professionals across a wide range of sectors of importance to the Swiss economy, and to bridge the gap until the new law on foreign workers comes into effect in January 2008, the Federal Council has fixed a number of ‘contingents’ –exceptions– to cover the transition period.

As was done previously, 4000 authorisations for the year and 7000 short-term authorisations were accorded.

Thanks to this provisional measure, the Swiss economy will have a sufficient number of work permits available to recruit qualified staff for high-tech industries, luxury watch making, pharmaceutical and chemical industries, and the financial services and banking sector.

swiss high tech industriesThe Swiss economy remains very dependent on specialists, often from outside the European Union or AELE. The shortage is highest in I.T. and telecommunications, but other sectors such as financial services and banking and the luxury watchmaking industry have also experienced such keen labor shortages that economists have argued that the phenomenon is limiting growth.

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