Swiss Non-Farm Payrolls at Fresh Record Peak

Switzerland’s non-farm payrolls increased by 0.9% year-on-year to a fresh record high of 5.534 million in the fourth quarter of 2024, following a 1.2% gain in the previous three-month period.

Employment in the industrial sector grew by 0.6% to 1.131 million, mainly attributed to gains across all major sectors, including mining and quarrying (2.7%), manufacturing (0.1%), electricity, gas, steam and air-conditioning supply (4.8%), water supply, waste management (1%) and construction (1%).

Moreover, payrolls in the services sector increased by 1% to 4.403 million, mainly due to increase in transport and stockage (3.4%) water transport and air transport (13.1%), and administrative and support service activities (4.5%).