swissstaffing - Verband der Personaldienstleister der Schweiz
Swiss Staffingindex: staff leasing market down just under 8 percent
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A slowing economy and a labor shortage are having a negative impact on the temporary staffing market. Permanent position placements are still on the rise.
Staffing service providers concluded the third quarter of 2023 with a 7.6 percent decrease in temporary staffing compared to the previous year, according to the Swiss Staffingindex. The revenue with permanent positions, on the other hand, increased 6.8 percent. The combination of labor shortages and a slowing economy has made life difficult for staff leasing companies. There are no suitable candidates to fill vacancies. Order volumes in the industry are decreasing, and with them, the demand for temporary workers. However, business is running smoothly for permanent positions. Due to the dried-up labor market, companies lacking skilled workers are seeking assistance from staff leasing providers, which is boosting turnover.
Economy: a soft landing on the horizon for the Swiss labor market
The labor shortage is the reason why the staff leasing sector has fallen into the red during the third quarter. Despite recent reports of redundancies in industrial companies, the Swiss labor market is proving robust, as Manpower's labor market barometer shows: 47 percent of companies are planning to increase their staff, whilst just 9 percent are planning reductions. On an international level, Switzerland occupies a leading position in the Manpower study. The situation is particularly pleasing for communications services, transportation, logistics, and the energy and utilities sector. The Adecco Group Swiss Job Market Index similarly shows new heights for the labor market as a whole - including in the industrial sector. Machinery operators, assemblers, technicians and automation engineers are particularly in demand. Dr. Marius Osterfeld, an economist at swissstaffing, notes: "Although redundancies are difficult for those affected in any situation, the starting point for people seeking jobs remains ideal despite the economic downturn."
Outlook: stable starting position with geopolitical risks
Thus far, Switzerland has performed well in the face of economic challenges. The liberal labor market has, in particular, provided stability, supporting domestic consumption. Issues with supply chains and primary product price levels have also been alleviated somewhat, laying the foundations for recovery. The geopolitical risks remain significant and the conflicts in Israel and Ukraine offer potential for unwelcome surprises. The CEOs of staff leasing companies thus remain more pessimistic than in the past. Just 23 percent of them expect business to increase in the next six months. The vast majority, 43 percent, expect to see stagnation.
In the new cockpit, users can select and analyze the Swiss Staffingindex http://www.swissstaffing.ch/staffingindex data on an interactive basis.
More statistics can be found at this link.
Contact:
Dr. Marius Osterfeld, Head of Economics & Politics
Tel.: +41 (0)44 388 95 70 / +41 (0)79 930 45 25
marius.osterfeld@swissstaffing.ch
Celeste Bella, Head of Marketing & Communications
Tel.: +41 (0)44 388 95 65 / +41 (0)79 388 94 22
celeste.bella@swissstaffing.ch
www.swissstaffing.ch