Switzerland's non-farm payrolls increased 1.2 percent from a year earlier to an all-time high of 5.109 million in the second quarter of 2019, following a 1.3 percent advance in the previous three-month period. Employment in the industrial sector grew 1.5 percent to 1.103 million, as increases were seen in manufacturing (1.5 percent) and construction (1.1 percent). In addition, payrolls in services went up 1.1 percent to 4.006 million, driven by gains in business services (2.0 percent), health (2.2 percent), transport and communication (0.9 percent), financial and insurance activities (0.7 percent), hotels and restaurants (1.1 percent), and education (0.3 percent). Meanwhile, employment fell in trade (-0.3 percent). Non Farm Payrolls in Switzerland averaged 4360.32 Thousand from 1991 until 2019, reaching an all time high of 5109 Thousand in the second quarter of 2019 and a record low of 3841 Thousand in the first quarter of 1997.
Non Farm Payrolls in Switzerland is expected to be 5128.00 Thousand by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Non Farm Payrolls in Switzerland to stand at 5065.00 in 12 months time. In the long-term, the Switzerland Non Farm Payrolls is projected to trend around 5100.00 Thousand in 2020, according to our econometric models.