Swiss labour market: slow pace until autumn

The Swiss labor market is unlikely to improve in the coming months: it is the result of the use indicator calculated by the economic research center at ETH Zurich (KOF). In July it stood at -1.5 points, in progression compared to -2.6 points in the previous survey, dating back to April, but it remained negative.

According to economists of the KOF, it's very hard to wait for a clear recovery in employment in the fall. Almost no sector of activity likely to hire workers emerges from survey. The most reluctant sectors are taking especially in the branches exposed to the impact of the strong franc, like the manufacturing industry and the hotel and catering trades.

But also business-oriented internal market appear prudent, which in recent months have been affected by a decline in demand, for example in the retail trade or construction. Positive signals come instead from sectors such as transport, health and social.

The indicator is calculated on the basis of a quarterly survey involving over 4500 companies. The company is among other things asked if the next three months intend to create or delete jobs. The negative index value testifies to the fact that the majority of companies surveyed believe they have too personal and does not plan to expand it.

To regain a positive indicator value we must go back to the third quarter of 2014. The figure for July is still the best since the beginning of 2015.