The Swiss job market faced significant challenges in 2024, as an economic downturn led to a notable 10% drop in job vacancies compared to the previous year, according to Adecco’s Swiss Job
Market Index. This marks the first annual decline since the Covid-19 pandemic.
The decrease was particularly severe in the fourth quarter, with a 13% reduction in job ads compared to the same period in 2023. These figures, published by Adecco in collaboration with the University of Zurich’s Job Market Monitor, highlight a sharp contraction in demand for skilled labor across various sectors.
Skilled workers in decline: the hardest-hit sectors
The decline was most pronounced in the so-called 'MINT' fields—mathematics, computer science, natural sciences, and technology—as well as in healthcare. These sectors experienced a 19% drop in vacancies, a sharp increase from the 3% decrease reported in 2023.
The reduced demand for software developers and analysts was a key driver of this trend. “The decline in IT-related positions may reflect long-term shifts driven by technological advancements, particularly in artificial intelligence,” explained Johanna Bolli-Kemper from the University of Zurich’s Job Market Monitor.
Broader implications for Swiss employment
Vacancies for professionals in Information and Communications Technology (ICT), database management, networking, as well as for doctors, nurses, and civil and environmental engineers also saw significant reductions in 2024. These developments underscore the growing challenges faced by key industries.
In contrast, other roles were less affected. Managers, craftsmen, and unskilled workers experienced only a 3% decline in vacancies. Interestingly, craftsmen and unskilled workers recorded the second-highest number of job openings in Switzerland, following a consistent trend since 2020.
Regional impact: Zurich feels the pressure
Among Swiss regions, Zurich was particularly impacted, reflecting the broader national trends in shrinking opportunities for skilled professionals. Meanwhile, executive-level vacancies, which have been steadily declining since 2020, remained relatively stable compared to other categories.
As Switzerland heads into 2025, questions arise about how these shifts in the job market will reshape the country’s economic landscape. Structural changes driven by automation and technological evolution may further influence employment trends, underscoring the importance of preparing for a more dynamic labor market. Photo by Phil Whitehouse, Wikimedia commons.