During the first quarter of 2022 the number of people employed in Switzerland rose by 1.7% and the unemployment rate, as defined by the International Labor Organisation (ILO) fell from 5.8% to 4.6%. In addition, the average number of hours worked by those employed rose by 2.8%. The overall rate of unemployment in Switzerland by […]
Swiss inflation rises further in May 2022
On 2 June 2022, Switzerland’s Federal Statistical Office (FSO) published May inflation data, which show prices 2.9% higher than one year ago. Switzerland’s consumer price index (CPI) increased by 0.7% in May 2022 compared with the previous month. Inflation was +2.9% compared with the same month of the previous year. Inflation in Switzerland is currently […]
Migros launches 10% deposit home loans in Switzerland
Buying a home in Switzerland is difficult. Homes are expensive and lending is typically restricted to those with a 20% deposit and significant income. Migros Bank, an offshoot of the Swiss supermarket, recently launched a product that reduces the deposit requirement to 10%. Migros bank has launched the new product under the brand Cactous. According […]
Taxes to fall in the canton of Vaud
A recent political shift following cantonal elections in March 2022 has led to lower personal taxes in the canton starting in 2023, reported 20 Minutes. The canton of Vaud has one of Switzerland’s highest personal tax burdens. In 2018, a couple with two children earning CHF 150,000 paid more than three times as much tax […]
Electricity prices set to jump next year in Switzerland
As the prices of the fossil fuels used to produce electricity across Europe rise so must the price of electricity. According to the Association of Swiss Electricity Companies (AES), record market prices mean that a majority of electrical supply companies will have to charge their customers higher prices in 2023. A survey run by the […]
Federal government aims to make Swiss childcare cheaper
Switzerland has the world’s fourth most expensive childcare according to UNICEF. The federal government is working on a package of financial subsidies costing CHF 530 million a year to reduce the cost to parents, reported RTS. A 2021 UNCEF study of childcare in rich nations ranks Switzerland as having the fourth most unaffordable childcare, a […]
Health premiums to rise 5% says Swiss price comparison website
According to the price comparison website Comparis.ch obligatory Swiss health insurance premiums are set to rise by an average of 5% in 2023, in some cases as much as 10%. Key drivers of the rise are the impact of the pandemic and pressure by the federal government on insurance companies to refund reserves to policy […]
Swiss government concludes discussions on cutting social welfare for foreigners
As part of a revision of the rules related to foreigners in Switzerland the federal government has concluded discussions around cutting welfare entitlements for nationals from much of the world, reported the newspaper Le Matin. Discussions on restricting the welfare paid to some foreigners, which have been going on for some time, concluded on 3 […]
Recent price rises only the beginning, says Swiss consumer association
Food, energy and housing costs are rising in Switzerland and consumers are beginning to change their spending habits. So far inflation in Switzerland has been moderate with annual inflation of 2.5%. However, according to FRC, a consumer association in French-speaking Switzerland, recent price rises are only the beginning, reported RTS. The biggest driver of Swiss […]
Swiss consumer sentiment drops sharply in April
A survey published on 2 May 2022 shows a marked weakening of consumer sentiment in April in Switzerland. Consumers’ outlook for the general economic situation has turned far more pessimistic, said Switzerland’s State Secretariat of Economic Affairs (SECO). In April 2022, the consumer sentiment index plunged to -27, well below the long-term average of −5, […]
