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Switzerland – Job vacancies up despite economic upheaval

27 February 2015

The number of job vacancies increased by 4% between January and February 2015, despite the decision by the Swiss National Bank to stop pegging its currency to the Euro, according to the Swiss Job Index (SJI) from recruitment firm Michael Page.

Following the announcement by the SNB in mid-January, the SJI even registered an increase in job vacancies. However, the rate of growth between January and February 2015 was half that reported during the same period in 2014 and 2013.

The sectors benefitting most from the increase were finance, administration, banking, accounting, taxation, and sales.

Charles Franier, Executive Director at Michael Page Switzerland, commented: “The impact of the decision by the SNB has been more moderate than expected. In fact, the number of vacancies has increased since the announcement on January 15th.”

“Despite the growth rate of 4.4% this year, it should be noted that job vacancies grew twice as much in previous years (7.1% between January and February 2014 and 9.8% between January and February 2013). The finance and economic sector actually continuous to show strong growth.”

“In fact, the number of job vacancies increased by 4% in the areas of finance, accounting, and taxation. The traditional Swiss banking sector also remains stable with an increase in job vacancies of 5% between January and February 2015,” he added.