(Financial) services Swiss labor market continues downward trend

The Swiss job market continues to cool down. According to the personnel service provider Adecco, the number of vacancies shrank significantly in the second quarter.

This is shown by the "Swiss Job Market Index" published on Wednesday. According to the analysis, the number of job vacancies fell by 8 percent in the second quarter compared to the previous quarter. This means that the number of vacancies is still approaching pre-pandemic levels, the report continues. Compared to the same quarter of the previous year, the decline is even 11 percent.

Office occupations such as secretaries and healthcare professionals such as nurses have been particularly hard hit by the drop in demand. However, IT specialists in the fields of system administration, application programming and database development are also significantly less in demand.

Compared to the previous quarter, the number of jobs for people with these job profiles has collapsed by almost a fifth. Meanwhile, the number of vacancies for skilled workers in the construction sector developed positively (+10%).

More unemployed

Both in German-speaking and Latin Switzerland, there is a "downward trend" in job development: "Not only is the number of jobs on offer decreasing, but the number of unemployed people has also risen by more than 17,000 compared to the previous year," Marcel Keller, Country Manager of the Adecco Group in Switzerland, was quoted as saying in the press release.

At the same time, the number of companies experiencing recruitment difficulties is also decreasing. This is making it increasingly difficult for employees to find a job again, the statement continues.