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The Swiss staffing market appears to be on the route to recovery despite a rise in unemployment seen in recent months. The Swiss association of staffing firms (Swiss Staffing) reports this week that in October, for the first time this year, the temporary staffing volume increased to reach a year-on-year growth rate of +5.7%.
In September, there has been a marginal improvement in temporary agency work. But previous months were hit by declines and continuously saw negative growth rates. The average growth rate so far this year is still showing a deficit at -4.9%.
Swiss Staffing said there has been a “fragile” market recovery and the association is viewing the recent figures with “cautious” optimism. It said the increase in temporary agency work was surprising, given that unemployment crept up to 2.9% in October and employment was stagnating.
Standard & Poor last week said the Swiss economy is likely to weaken over the coming quarters due to weaker demand in industrial exports and solid household consumption.