Vacancies: The annual balance is negative for the first time since the coronavirus pandemic

The weak European economy and the strong Swiss franc are slowing down the Swiss economy, which is also having an impact on the labor market. In 2024, a total of 10% fewer job advertisements were published than in 2023. The decline is particularly evident in the 4th quarter of 2024, in which 13% fewer advertisements were placed than in the same period of the previous year.

"The weak Swiss economy continues to have an impact on the labor market. Employment growth slowed in 2024 compared to 2023, which led to a slight increase in unemployment. At the same time, the number of job vacancies fell. Although this is still above the pre-coronavirus level, it is increasingly approaching it - a sign that the labour market is returning to normal. It remains to be seen what impact the weak economy will have in 2025," says Marcel Keller, Country President Adecco Switzerland.

Decline in demand for skilled workers affects all occupational groups

The reduced demand for skilled workers is leading to a decline in job advertisements across all occupational groups. The STEM and healthcare occupational groups recorded a decline in vacancies for the second year in a row in 2024. At -19 % compared to the previous year, this was more pronounced than in 2023 (-3%). The main driver was once again the falling demand for software developers and analysts. In addition, specialists for ICT, databases and networks, healthcare professions such as doctors and nurses as well as civil and environmental engineers also contributed to the decline in 2024.

Nevertheless, the overall number of vacancies was still above the level before the coronavirus pandemic and above the national average. In healthcare professions, such as nurses, the decline was from a historically high level across Switzerland in 2023 and was less pronounced than in ICT professions. Nevertheless, the number of vacancies in this group remains below that of other top occupations.

At -17%, the office and administration specialist occupational group again recorded a decline in advertised vacancies in 2024 - for the second year in a row. This continued the slightly negative trend that was already visible before the coronavirus pandemic. All sub-categories were affected, including specialists in finance and accounting, financial services, bookkeeping, human resources as well as office and secretarial staff and office staff in customer service.

Also declining in technology, business and services

The following three occupational groups recorded a moderate decline of -7% to -8%. These include technical specialists with a decrease of -8%, which include electrical engineers, webmasters and process engineers. This is closely followed by the occupational group of university professions in business and social services with a decrease of -7%. These include teachers, lawyers and financial analysts, for example. Similarly, service and sales professionals recorded a decline in job advertisements of -7%. This group includes professions such as health and care specialists, cooks and retail specialists.

At -3%, the occupational groups of managers and skilled trades and unskilled workers experienced the smallest decline in job advertisements compared to the previous year. Executives include managing directors, HR managers and chief financial officers. The number of job advertisements in these positions has been trending downwards since 2020. Skilled trades and unskilled workers recorded the second-highest number of advertised positions in Switzerland. This occupational group includes skilled trades such as carpenters and bakers, as well as poly, production and machine mechanics and fitters, and construction and finishing specialists. Despite the decline, skilled trades and unskilled workers have a historically high level of vacancies throughout Switzerland.

"The 2024 figures reveal two key issues for the Swiss labor market: the international economy and technological change. While professions in the service and sales sectors are benefiting from strong domestic demand and remain stable, the number of vacancies in export-dependent sectors such as the watchmaking and MEM industries is falling. The lower demand for IT professions such as software developers could be an indication of long-term changes due to technological change, particularly AI," says Johanna Bolli-Kemper, Job Market Monitor Switzerland.

 Automation-related declines in occupations with many routine activities, e.g. in the office and administration sector, are well documented by studies. However, it remains to be seen how technological change will affect the demand for IT professions in the long term. "According to the OECD, this depends on whether these occupations are replaced by new technologies or made more productive and how many new jobs are created as a result," says Bolli-Kemper.

Nationwide decline in job advertisements in 2024 with regional bright spots

The negative developments on the Swiss labor market affected all major regions in 2024. Zurich is particularly affected, with a decline in job advertisements of -15%, closely followed by Espace Mittelland with -14%. Central Switzerland and Northwestern Switzerland recorded slightly smaller declines of -9%. Eastern Switzerland (-3%) and Southwestern Switzerland (-2%) were the least affected.

In Central Switzerland, business and social professions recorded the sharpest decline at -27%. In Zurich and Espace Mittelland, on the other hand, the STEM and healthcare professions were hit particularly hard (Zurich: -26%; Espace Mittelland: -20%). In Eastern Switzerland and Northwestern Switzerland, the occupational group of office and administration specialists recorded the largest decrease in job advertisements (Eastern Switzerland: -26%; Northwestern Switzerland: -20%). In Southwestern Switzerland, which recorded the smallest decline of all the major regions, service and sales specialists and university professions in STEM and healthcare led the negative trend with a decline of -14% each.

Despite the negative overall situation, there are also rays of hope: managers are experiencing a significant increase in job advertisements in Central Switzerland (+29%) and Southwestern Switzerland (+20%), while only a slight increase of +1% is recorded in Northwestern Switzerland. In Eastern Switzerland, advertisements for specialists in services and sales increased by +20%, and in Northwestern Switzerland, demand for technical specialists grew by +15%.

Although the results show a clear trend in the Swiss labor market, it varies by region and occupational group.

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