According to new figures released by the Federal Statistical Office (FSO), Swiss salaries agreed as part of collective labour agreements (CLA) rose by 2,1 percent on average this year. The findings are the second successive year that real wages for workers in Switzerland have risen.
With inflation and interest rates in Switzerland falling precipitously over the past few months, there was hope that after the 2,2 percent real wage drop for CLA workers in 2022 and the tiny rise of 0,3 percent in 2023, salaries would finally start to rise significantly faster than inflation. Now, the latest FSO has revealed that CLA wages in Switzerland rose by 2,1 percent on average in 2024, amounting to a real wage increase of around 0,9 percent.
While it may not sound much, the nominal rise is the second fastest rise seen in the alpine nation since 2009. 81 percent of CLA wage rises were distributed evenly among staff, with manufacturing workers being the most likely to receive a wage rise. Of the 1.500 CLAs analysed by the FSO, they estimate that over 613.000 workers were given wage increases this year.
Wages rose at their fastest rate (2,7 percent and above) in the transport and storage sectors, followed by motor vehicle workers, teachers and those working in communications. Rises were the lowest in the “various sector” industry - roles ranging from hairdressers to music technicians.
The findings are an excellent sign for those with work contracts not bound by CLAs, as Swiss companies typically use the agreements as a bellwether to guide what they should put on their own payslips. The findings are also an improvement on previous forecasts: in August, the KOF Swiss Economic Institute study predicted that significant wage rises would only arrive in Switzerland in 2025.
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