Significantly fewer vacancies: Decrease of -11 percent

This is shown by the Adecco Group Swiss Job Market Index, the scientifically based study by the Adecco Group Switzerland and the Job Market Monitor Switzerland of the University of Zurich. 

Broadly observed decline in jobs 

In the second quarter of 2024, the Adecco Group Swiss Job Market Index continued its negative trend and recorded an 8% decline in job vacancies compared to the first quarter of 2024. Compared to the same quarter of the previous year (Q2 2023), the decline is even 11%. This means that job vacancies are increasingly approaching the pre-pandemic level of 2019. 

There is a downward trend in the number of vacancies in both German-speaking and Latin Switzerland. However, the number of vacancies in German-speaking Switzerland has fallen much more sharply than in French-speaking Switzerland and Ticino. German-speaking Switzerland recorded a 12% decrease in vacancies compared to the same quarter of the previous year (Q2 2023), while a decrease of 8% was recorded in Latin Switzerland. 

"The labor market is cooling increasingly. 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. In addition, the number of companies complaining about recruitment difficulties is falling. This is making it increasingly difficult for employees to find a job," says Marcel Keller, Country President Adecco Group Switzerland.

Slump in demand for office workers, healthcare specialists and IT experts

Job trends in the various occupational groups show a mixed picture. Of the 14 occupational groups, only construction and finishing specialists (e.g. painters, plumbers and electricians) are experiencing a clearly positive trend with an increase of 10% compared to the first half of 2023. 

Six out of 14 occupational groups are stagnating at a similar level to the previous year, including, for example, skilled workers in personal services (e.g. hairdressers, podiatrists or nursing assistants), skilled workers in technology (e.g. chemical laboratory technicians, mechanical engineering technicians or structural draughtsmen) and skilled workers in commerce, administration and trade (e.g. claims handlers, secretarial managers or real estate agents).  

However, the number of vacancies in the other seven occupational groups decreased significantly. The decline in office specialists (e.g. data entry clerks, telephone operators and office assistants) is particularly striking, with the number of vacancies falling by 20%. It is worth noting that the decline in demand has particularly affected university professions. In addition to the healthcare professions (e.g. medical specialists, occupational therapists or nurses), the IT professions (e.g. system analysts, application programmers or system administrators), natural sciences professions (e.g. physicists, chemists or engineers) and business professions (e.g. financial specialists, management consultants or marketing specialists) are also affected by a noticeably negative job trend. 

"At the beginning of 2023, the order backlog in the construction industry reached an all-time high. This order backlog accumulated by construction companies is helping to cushion the currently cooling business situation somewhat and also appears to be supporting demand for construction occupations. This contrasts with university and office occupations. Many of these professions are usually sought after in sectors that are currently struggling, such as industry," adds Yanik Kipfer, Job Market Monitor Switzerland.

Construction and finishing specialists: decline from a high level 

Although construction and finishing specialists are currently experiencing a 10% increase in vacancies compared to the first half of the previous year, vacancies are down 4% compared to the second half of 2023. This means that the steep growth trend that this occupational group has been experiencing since 2021 has come to an end for the time being. This growth trend was supported in particular by the development of the construction and finishing specialists subgroup (e.g. carpenters, roofers or refrigeration installers), which, after reaching a historic high in the second half of 2023, recorded a decrease in job vacancies this half-year for the first time since the first half of 2021.  

In the electricians and electronics technicians subgroup (e.g. automation technicians, electronics technicians or lighting installers), the slightly negative trend of the last four half-years is continuing. The decline in job advertisements for construction and finishing specialists is in line with the current deterioration in the business situation in the construction-related sectors of the economy, as the latest results of the KOF Economic Survey show. Nevertheless, the index for construction occupations remains at a very high level. 

Office specialists: Vacancies decrease by 20 percent 

After office specialists reached a record number of vacancies in the second half of 2022 as part of the pandemic-related economic upturn, a negative trend set in the following half-year with the increasing economic slowdown and has continued ever since. Currently, office specialists - including secretaries, accounting clerks and counter clerks - have seen a 20% decline in job advertisements compared to the first half of 2023.  

Among other things, this development could be linked to the fact that many companies are trying to reduce duplication in order to increase efficiency in a slowing economy. Such restructuring plans often relate to jobs in administration and management. 

Healthcare professions: Nurses particularly affected by decline in demand 

In the first half of 2024, there was a significant decline in job vacancies in the healthcare professions for the first time in years. Compared to the first half of 2023, this occupational group recorded a 19% decrease in advertised job vacancies. All subgroups of this occupational group recorded a decline in job vacancies, with the subgroup of nurses being particularly affected.  

This development is all the more remarkable given that nursing staff have recorded steadily rising index values in recent years and reached a historic high in the second half of 2023. This development could be explained by the fact that many hospitals have recently reported financial difficulties. For example, the St. Gallen hospitals announced job cuts last fall as part of a financial restructuring, which affected nursing staff, among others. 

Heiko Mauersberger, Head of Medical at Adecco Switzerland, adds: "We have noticed that institutions are reducing their staffing ratios due to increasing cost pressure. As a result, fewer vacancies are being offered in the healthcare sector and certain services are being restricted." 
 
Important: The decline in vacancies does not mean that there is no longer a shortage of skilled workers in this occupational group. On the contrary, the shortage of qualified personnel in the healthcare sector is likely to continue. The decline in vacancies means that employees - for example - still have 8 vacancies instead of 10 (these figures are purely illustrative and should not be taken at face value).  

IT university professions: demand for IT specialists at lowest level since 2016 

Since the second half of 2022, there has been a negative trend in the number of vacancies in IT university professions. This trend is continuing this half-year, with 19 percent fewer jobs currently being advertised compared to the first half of 2023. One possible explanation for the decline in job vacancies could be that high interest rates are leading to rising costs for IT projects and the weak economy is hampering investment projects, both of which are having a negative impact on the demand for IT specialists. 

So far, this negative development has mainly affected the subgroup of software and application developers and analysts (e.g. software developers, mediamaticians or application testers), while demand for the subgroup of specialists in information and communication technology, databases and networks (e.g. network administrators, cyber security specialists or database developers) has stagnated.  

However, specialists in information and communication technology, databases and networks are now also experiencing a slump in demand this half-year. The index for IT university professions is currently at a new low, which was last seen in the second half of 2016. 

Source: www.adeccogroup.com