Swiss Job Market Explodes

Posted on 11 March 2007 by Klebnikov

swiss multinationalThe Swiss economy, according to statistics released last week, is booming. Large Swiss multinationals are busily trying to recruit qualified workers and having a difficult time finding them. Migros announced they are trying to recruit 700 salespeople, Credit Suisse and UBS are both each seeking to add 600 new client advisors and account managers to their staff, Novartis and Roche are actively trying to recruit between them over 1000 scientists, researchers, and other types of staff. Among the watch industry multinationals, the Swatch Group alone is seeking to augment its staff by 500 new hires. The Watch industry is known to have a huge shortage of labor, despite recruitment efforts across Europe.

“We are witnessing a phenomenon we haven’t seen in many years,” noted Mr. San José, director of Marketing at Adecco Switzerland. “Both permanent enployment and interim hiring are very strong. The signs are very good for at least 12 months to come.” According to Mr. San José the market for permanent employment saw a rise of 20% – 30%, with respect t the same period last year. As regards temporary or interim work, the increase is between 20% – 40%.

The sectors which are most affected and have the greatest labor shortages for 2007 are (for temporary / interim work) in construction and the hotel / restaurant branch. In the professional sectors for permanent employment, the sectors of information systems, watchmaking, banking, and pharmaceutical/biotech are particularly short of qualified candidates.

According to the federal statistics released by Bern, unemployment has fallen from 3.3% in January 2007 to 3.2%
in February 2007. The State Secretariat for the Economy (or SECO) believes that unemployment will continue to decrease. They expect 2007 to finish on an unemployment rate around 2.6% – 2.7%.

According to the Qual recruitment website, the hottest sectors (in terms of outstanding job offers last friday) are: Telecoms and I.T. (900+ offers), Banking and Finance (560+ offers), Industrial (450 offers), Administration (330+ offers), Marketing and Sales (320+ offers), Acounting and Audit (320+ offers), Executives (240+ offers), and Watchmaking and Jewelry (130+ offers).

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