On 9 January 2023, Switzerland’s State Secretariat for Economic Affairs (SECO) published the latest figures for the Swiss labor market in 2022 showing unemployment at its lowest rate for 20 years. 2022 saw the development of a labour market increasingly characterised by a shortage of workers and an unemployment rate of 2.1%, said SECO. The […]
Switzerland’s worker shortage putting pressure on unemployed to change career
By international standards, unemployment payments are generous in Switzerland – typically 70% of salary. But they come with strict requirements for recipients to show they are engaging in actions deemed necessary to find work. With record numbers of unfilled jobs, pressure is now being put on some to change career, reported RTS. According to one […]
No money likely from the Swiss central bank in 2023
In good years the Swiss National Bank (SNB) distributes a portion of its profits to a number cantonal tax authorities, boosting their income. However, there will likely be no payments in 2023, reported the newspaper 20 Minutes. When the SNB was trying to moderate the rise of the franc it bought large quantities of assets […]
One in 20 jobs unfilled in Switzerland
As the end of 2022 approached, there were more than 250,000 unfilled jobs registered in Switzerland, equivalent to nearly one in every 20 jobs1. Out of the 264,069 vacancies recorded, nurses, electricians and managers were the most sought after employees, reported SRF. Together these three categories made up 10% of vacancies. On 15 November 2022, […]
Swiss gas consumption down nearly 30% in November
Switzerland consumed significantly less gas in November 2022, according to the Swiss Federal Office of Energy (SFOE). In November 2022, Switzerland imported 3084 giga watt hours of gas, 29% less than the monthly November average of the prior five years, reported RTS. October 2022 saw a similar year on year decline (-40%). However, despite lower […]
Financial pessimism in Switzerland worst in 6 years
A survey published on 27 December 2022 shows Swiss consumer sentiment is at its lowest since 2017. More than one in four of those surveyed expects their financial situation to deteriorate. Rises in health insurance premiums and energy costs were cited as the main reasons for financial pessimism by the 27.5% of people expecting their […]
Franco-Swiss deal reached on taxing remote workers
This week, after two years of negotiating, France and Switzerland reached an agreement on the tax treatment of workers employed in one country who work remotely in the other, announced the Swiss government. From 1 January 2023, up to 40% of an employee’s annual working hours can be worked from home without having any impact […]
Date announced for start of higher Swiss VAT
On 25 September 2022, Swiss voters voted in favour of raising the rate of VAT to pay for state pensions. On 9 December 2022, the government announced the date the new higher rates will start. From 1 January 2024, the standard rate of VAT will rise from 7.7% to 8.1% and the reduced rate will […]
Switzerland to restrict use of electric vehicles
Switzerland’s federal government plans to restrict the use of electric vehicles if there is a serious shortage of electricity, reported RTS. Electric vehicles consume substantial amounts of electricity. An average Swiss car travels 13,500 km per year. An average electric cars consumes nearly 200 Wh/km. This means a household with two electric cars could be […]
Swiss cantons to get most of extra company tax money
On 12 January 2022, Switzerland’s Federal Council decided to implement the minimum tax rate for companies that was agreed by the OECD and G20 member states in 2021. The 15% minimum tax, which will be applied to large companies from 1 January 2024, will generate extra tax revenue. This week, after a degree of wrangling, […]
