The number of Swiss job advertisements rose 47% in the first quarter of 2022 compared to the same quarter in the previous year, a record rise, reported the employment agency Adecco.
Job hunters in Switzerland face much better prospects than they have in a long time, said the agency, particularly those with highly sought after digital skills. The data behind the Adecco Group Swiss Job Market Index is compiled by the University of Zurich.
7% more jobs were advertised in the first quarter of 2022 than in the fourth quarter of 2021. Compared to the first quarter of 2021, the number of jobs advertised in the first quarter of 2022 was 47% higher.
“The growing demand for skilled workers can be explained as a post-COVID economic boom. Many companies are also expecting a further increase in demand in the near future and are therefore expanding their production and service capacities”, said Marcel Keller, Country Head of Adecco Switzerland.
The Swiss Economic Institute at ETH Zurich (KOF), an economic research institute, confirms the increased demand for workers in Switzerland. According to KOF, companies from all sectors are planning to expand their workforces. It’s Swiss labour market index for the first quarter of 2022 showed a rise of 11.5%.
The pandemic accelerated the digital transition in most business sectors and people with digital skills are now in particularly high demand. 49% of job adverts mentioned a requirement for digital skills including basic digital skills (31%), content management (23%), network, system and data management (19%), digital business management (18%), software management (16%) and industry specific ICT (16%).
At the same time, some economists predict economic growth will slow in Switzerland. In its latest pessimistic scenario calculated in March 2022, KOF predicts growth in 2023 (2.1%) could be half what it predicts for 2022 (4.4%). Given the strong link between GDP growth and jobs growth the boom in job vacancies may not last.
In addition, the spectre of wage inflation off the back of rising costs could further dampen demand for workers. Year-on-year inflation in March 2022 was 2.4% and Swiss union bosses have already begun arguing for higher pay.