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Recruitment firms in Switzerland can expect a recovery of the staffing market although new statistics show that temporary agency work is still lagging behind due to a slowdown seen in some of its key sectors.
The Swiss staffing association reports that temporary billings have continued to fall in August, seeing a -8.4% decline in activity year-over-year. The figure improves slightly when compared to this year’s performance only, with temporary staffing reaching a negative growth rate of -7.4%.
The association said that the country’s GDP rate was in part to blame as this reached only 0.5% in the second quarter of the year. In order for the staffing industry to see some positive growth levels, GDP would normally have to at least exceed 1%.
The Swiss labour market is also showing mixed results with some sectors, such as the healthcare and food industry, growing while others are deteriorating. Demand in the construction industry, one of the key sectors for staffing firms, has been particularly sluggish. The machine industry has not fared well either and was recently hit by double-digit declines.
The Swiss economy is expected to pick up again in the next year with GDP to increase. For the remainder of the year, the association is expecting “stable” developments. Staffing Industry Analysts is forecasting a market growth rate of +3% for the Swiss recruitment industry.