The Swiss bank UBS estimates there could be a shortfall of 500,000 workers in Switzerland in the coming 10 years as the baby boomer generation retires.
However, the bank predicts the shortfall will not be even across all industries. Some sectors are expected to stagnate. Workers in these industries might find it harder to find work.
Demand for workers is expected to be high in the health and care sectors but low in manufacturing. In general, growth is expected in sectors that predominantly hire women, while some predominantly hiring men will stagnate. This might push men into traditionally female occupations and increase pay for these jobs as demand outstrips supply.
The bank suggests several solutions for coping with the challenge, including higher female workforce participation – 80% of women work in Switzerland but 45% work only part-time, greater integration of the unemployed, and more people working beyond the official retirement age. It suggests a flexible approach to retirement with incentives directed at those in industries with labour shortages.
In the past, additional demand for workers was largely met by a high level of immigration. To fill the estimated shortfall over the next ten years, Switzerland would need an estimated net annual immigration of more than 100,000 people, a level that would meet considerable political and social resistance and which might strain Switzerland’s relationship with the EU, argues the bank. For these reasons, it recommends other homegrown options for expanding the workforce.
UBS news release (in English)
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Your Momma says
Stop feeding us bullshit, UBS and Media.. You want more women in the workforce – and who is looking after the children and the houshold??? Paid staff? For whom we women have to work for and give our earnings. I am all for women emancipation, but you are asking faaaaar toooooo much from women and not realizing that we humans live in FAMILIES and not in offices. If you want to support women’s independence, provide protection and flexibilty of work, part time opportunities and lower work stress instead of squeezing more work hours out of us (for the good the economy…).
Educated and working mom.
Alex Mueller says
The research refers to what the market needs, not what women wants! Companies survive in a market by producing efficiently, covering the customer demand and not by supporting and protecting women’s independence!
If you need more workers, you get them from abroad, you let the ones who are working here work longer (beyond 65) or you get the part-time workers work more. If not: supply will not cover demand and the available services offered will be more expensive. You do not have that many alternatives…
Why do I always get the feeling especially women think they are entitled for everything, giving nothing in return? This is not a free “all you can eat”-buffet…like economists say: there is no free lunch!
Life is what you make of it and by living in Switzerland you have a lot of opportunities in your own hands. You wanted children, therefore do not complain. You are responsible for yourself, not companies who contribute to the national GDP!