The Swiss Labour Market Barometer is a monthly leading indicator based on a survey of labour market experts from selected employment centres in 22 cantons.
Outlook still negative in February
The short-term labour market outlook was once again negative in February 2025, with the Labour Market Barometer standing at just 97.9 points. The index has only once recorded a lower overall score – in February 2024.
"The gloomy short-term outlook for the Swiss labour market coincides with the preparatory work that is currently under way to extend the maximum eligibility period for short-time working compensation from 12 to 18 months", says Dr Dorit Griga, scientific officer at SECO. The economic trend in industry in both Switzerland and other European industrial nations remains weak. And the root causes behind the extraordinary reduction in working hours in the machinery, electrical and metal (MEM) industries still exist.
A look at the individual components of the barometer shows that the outlook for registered unemployment (seasonally adjusted) is driving the overall indicator’s trend. The outlook for unemployment was worse than in the previous month, equalling the all-time low recorded in October 2024. The short-term outlook for employment (seasonally adjusted) remains at the same level as the previous month, at 98.8 points.
Methodology
The Swiss Labour Market Barometer is a monthly leading indicator based on a survey of labour market experts from selected employment centres in 22 cantons. The survey has been conducted since May 2021 by SECO in collaboration with the Institute for Employment Research (IAB) in Germany and the European Labour Market Barometer.
While component A of the barometer signals the development of the seasonally adjusted unemployment figures for the next three months, component B forecasts employment trends. The average of the components ‘unemployment’ and ‘employment’ constitutes the total value of the barometer. This indicator thus provides an outlook on the overall development of the labour market. The scale ranges from 90 (very poor development) to 110 (very good development).
The European Labour Market Barometer has been conducted since June 2018 together with the public employment offices in participating countries and the IAB. Currently, 17 countries take part in the survey. These include: Austria, Bulgaria, Cyprus, the Czech Republic, Denmark, Belgium-DG, Belgium-Wallonia, Germany, Iceland, Liechtenstein, Lithuania, Luxembourg, Malta, Poland, Portugal, Spain, Sweden and Switzerland.
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