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Swiss Employment Market: Technical Professions Are the Most Sought After Anticipated GDP growth and better economic conditions suggest that employment offers will increase in certain sectors. Technical and manufacturing professions are the most sought after.
The Swiss Ministry of Economy, known as the Secrétariat d’État à l’économie (SECO), forecasts a 2.3% growth in Swiss GDP in 2018. This figure is better than in 2017, where the growth forecast was only 1%. According to forecasters, Switzerland is now better off, mainly due to a healthy global economy and the depreciation of the Swiss franc since summer 2017. Employment prospects in the Confederation for the coming months are rather good with an employment dynamic that is regaining some vitality.
If employment is falling in many sectors, recruitment prospects for technical professions are rising. Overall, Swiss companies seem to have found some optimism after several difficult months due in particular to a high Swiss franc, resulting in a CHF / EUR exchange rate detrimental to exports. In fact, employment has particularly increased in technical and scientific professions (35%). It has also progressed in the manufacturing and transport sector (23%) as well as in IT professions (20%). On the contrary, there has been a decline in education and public services (-6%), finance and trust (-8%) and trade and sales (-10%). The proof is that the most sought-after profiles in February are specialists in logistics (14.1%), audit (11.5%), IT (9.6%) and pharma (7.1%). In short, export-oriented industries are driving demand. Manufacturing and transport companies posted a solid increase, with 29% more jobs to be filled.
First, the recovery in exports has restored industry confidence, so that positions can be created and advertised. Another reason for this increased interest in technical professions: the recovery of the watch industry. Since spring 2017, the value of watch exports has increased by 3% compared to 2016. The majority of executives are optimistic regarding the outlook for the Swiss watch industry and main export markets for the next 12 months. Another indicator that sheds light on the health of the industry: the willingness to recruit is also growing. By the end of 2017, there were 206 employment vacancies.
Interest in technical professions can also be explained by the growing digitization of society. Companies are increasingly looking for specialists in logistics and IT in order to keep up with the advancement of new technology. It is important to note that they create jobs in Switzerland.
With the professional world evolving towards more automation and digitization (cf. Industry 4.0), technical professions are a sector of the future. They should make up the majority of employment gains in the coming months.
Timothée Gaignault, Associate Director Morgan Philips in collaboration with Miguel Hernandez