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You don’t talk about money. And it’s definitely not about salary. Switzerland has a salary book. Brings light to the darkness of the wallet.
Key finding: Overall, the wage book expects a nearly 2.5 percent wage increase in the private sector in 2023. The record low unemployment rate of 2 percent now gives workers a lot of leeway for wage claims. It has been more than twenty years since very few people were registered as unemployed as they are today!
Not everyone benefits equally
For the gastronomy and hospitality industry, which has been badly affected by Corona, there should be almost four percent more wages compared to the previous year. It is the sector with the strongest expected wage growth. Above-average wage increases are also expected in the construction, watch and pharmaceutical sectors.
The situation is very different in health and social services. There, wage increases will be below average at under two percent. Employees in retail, banks or mechanical engineering will also have a pay rise of less than 2.5 percent.
What is the reason for this difference between the hotel industry and healthcare services? Daniel Kopp (38) from the KOF business cycle research center at ETH Zurich writes in the wage book: “Survey data shows that the majority of companies in the catering industry expect their selling prices to rise.” When asked, he states that catering companies expect to be able to pass on the higher prices in food, energy and wages to consumers.
In the health and social sector, the situation is the opposite. A higher fee for services is not expected there. The scope of wage increases is accordingly limited. And anything in an industry where the shortage of skilled workers is particularly evident.
Regional differences
Not only the sector but also the place of work determines the wage level. The lowest wages can be expected in the canton of Ticino, the highest in Zurich and the economic region of northwest Switzerland.
The salary book is published once a year by the Economic Office of the Canton of Zurich.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
