As Europe continues to grapple with economic instability, a new report from the Manpower Group has suggested that no other nation on the continent is set to create as many jobs as Switzerland. The number of workers required to fill roles in the alpine nation is expected to skyrocket in the coming months.
According to their data, 54 percent of international companies and domestic businesses in Switzerland say they want to hire in the next three months, compared to 20 percent of firms that want to cut staff. At a net employment forecast of +34 percent, the country now has the most positive outlook in all of Europe.
The report noted that while Switzerland always finds itself near the top of the pile, the last three months have seen the number of local businesses wanting to hire soar, propelling the country to first place. What’s more, with the rate of unemployment standing at 2,3 percent, many of the new employees will have to come from abroad.
The report found that small to medium-sized businesses are the ones driving the growth of new opportunities, with only 8 percent of companies with more than 1.000 employees planning to hire in the next three months. Manpower Group noted that the fears of global instability are putting larger firms off hiring as they are more vulnerable to economic shocks overseas.
In all, companies in the Swiss energy and utilities sector are the keenest to hire, with 66 percent of firms planning to employ new workers. Manpower noted that it is no small part down to the fact that the new electricity law was accepted by voters on June 9. The accepted proposal is expected to boost local energy production by 30 percent by 2050, mainly by expanding wind, solar and hydroelectric power.
Despite the tumultuous events of the Credit Suisse crisis, Swiss banks, insurance services and real estate companies are also set to hire in the coming months, with 42 percent more positions expected to be offered in the sector. However, they noted that much of this growth would be among real estate and insurance providers, with the number of direct finance roles set to decline.
Speaking to Blick, Manpower Switzerland head Eric Jeannerod noted that while the number of roles directly related to finance may be falling, “The merger of banks requires a lot of resources and know-how in the coming quarters, particularly in IT.” He predicted that analysts, software developers, lawyers, and regulatory experts would be especially highly sought after.
With workers shortages in Switzerland set to continue, Jeannerod noted that 57 percent of companies classed themselves as “early adopters” of ChatGPT and other AI tools. He noted that most firms see AI as an “additional labour force” that could take over “repetitive and time-consuming tasks”, rather than a track that leads to people losing their jobs. “However, [to avoid this] companies must invest in retraining their staff so that they can use AI profitably,” he concluded.