The number of vacancies for jobs in Switzerland dropped by 10 percent in 2024, the latest Job Market Index from Adecco and the University of Zurich has revealed. Amid economic instability overseas, 2024 was the first time since the COVID pandemic that the Swiss job market declined.
According to the data, there were 10 percent fewer vacancies listed in Switzerland in 2024 compared to 2023, the first drop seen since 2020. The decline was at its most severe in the last three months of the year, when 13 percent fewer advertised vacancies were posted compared to the same period the year before.
The decline in employment prospects was felt across the country but was most acute in Canton Zurich. There, vacancies have declined by 15 percent compared to 2023, closely followed by the Espace Mittelland (Bern, Fribourg, Jura, Solothurn and Neuchâtel) with a drop of 14 percent. Central Switzerland (Zug and Lucerne among others) reported a 9 percent decline, while the job market remained healthiest in eastern Switzerland (-3 percent) and the area around Lake Geneva (-2 percent).
In a statement, the University of Zurich noted that the shortage of labour seen in Switzerland over the last two years is starting to ease, as evidenced by the decline in vacancies and a rise in unemployment from 2 to 2,4 percent during 2024. Back in November, the university found in a separate report that 28 out of 32 professional groups analysed saw an easing of staff shortages last year.
The biggest decline in demand was felt in so-called "MINT" jobs (mathematics, IT, natural sciences and technology), which reported a 19 percent drop in vacancies in 2024. University expert Johanna Bolli-Kemper told Blick that "the decline in demand for IT jobs could be an indication of long-term changes due to technological change, especially artificial intelligence."
Vacancies also declined in the IT and communications, healthcare, public and environmental sectors. By contrast, demand for managers, craftspeople and unskilled workers remained roughly stable compared to 2023, and above the long-term average.
With many of Switzerland’s main export markets facing inflation, slow growth or even recession, in December the Swiss government said it expects the economy to grow by just 1,5 percent in 2025. The Federal Council explained its forecast by noting that “the German and European economies [are set to] develop weaker than previously estimated.”
“In addition, the Swiss franc remains relatively highly valued”, the report continued. While this will mean better prices abroad for those with salaries paid in francs, Swiss firms will be forced to sell their exported goods at a higher price.
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