The Swiss State Secretariat for Economic Affairs SECO published the most recent figures for the Swiss labor market in 2022 on 9 January 2023. The previous year’s excellent labor-market development continued. The labor market’s development in 2022 was influenced by a shrinking labor force supply. Long-term lows in unemployment rates were the result: For the year 2022, the unemployment rate was 2.2%, representing a 0.8% decrease from the previous year (3.0%).

With the economic recovery and falling unemployment, it is becoming increasingly difficult for businesses to attract employees in the year 2022. The fact that difficulties have recently increased among unqualified workers points to a conjuncture-induced reduction in labor-force availability. However, because of the expected disruption in the economy, the need for workers is likely to fall this year according to SECO’s outlook.