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Old 31.10.2018, 09:25
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Job market status

Hi everyone,

Given the diversity of people present on this forum, i would like to tap into the knowledge of each of you to get a better understanding of how the job market is evolving across cities/sectors.

There is no particular end to the conversion, just plain curiosity. Feel free to share your personal experience, anecdotes etc.

I start myself: I work in Geneva in a big multinational in the beauty/retail sector. It recently went through a massive round of layoffs, the mood is not particularly great and the business is not growing. Salaries are pretty much flat

I also see empty office spaces that struggle to find new companies (>1year on the market), so it got me thinking that Geneva is not as attractive as in the past.
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Old 31.10.2018, 10:06
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Re: Job market status

The former Yahoo office building in Rolle, VD, still vacant since 2014.
I don't know if it is because of imminent corporate tax change or office space oversupply.


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Old 31.10.2018, 10:10
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Re: Job market status

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or office space oversupply.
I can name you quite a few places in Zurich that have the same problem. Those built before or during the '90s with the respective designs and standards are quickly replaced with the office spaces that are built now with current standards.
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Old 03.11.2018, 20:57
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Re: Job market status

Another Vaud observation: last year, when Marvell closed its engineering office in Etoy, VD, there was no single article about it in the Swiss press.

The local press is very ignorant about what happens in all these alien offices staffed with foreigners.
Hundred(s) of jobs disappear and not a single mention.

But certainly they took note when Marvell opened its office some time earlier and one can still find some articles about that.
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Old 03.11.2018, 21:24
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Re: Job market status

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I can name you quite a few places in Zurich that have the same problem. Those built before or during the '90s with the respective designs and standards are quickly replaced with the office spaces that are built now with current standards.
In Zurich there is an oversupply of office space. Many buildings are half empty. As you mentioned especially the older buildings. The companies can afford to choose if they decide to stay in Zurich.

I also see a lot of new buildings being rebuilt as living space. Where the bubble currently is.
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Old 03.11.2018, 22:20
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Re: Job market status

an oversupply because jobs are not available anymore or due to recent constructions?

I'm curious to understand how different sectors are doing: Tobacco, Pharma, Banking..
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Old 03.11.2018, 22:21
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Re: Job market status

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I'm curious to understand how different sectors are doing: Tobacco, Pharma, Banking..
Banking, what area? Wealth management, IT, private banking, corporate finance? All different
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Old 03.11.2018, 22:26
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Re: Job market status

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Banking, what area? Wealth management, IT, private banking, corporate finance? All different

I'm curious in general Any personal anecdote is welcome
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Old 03.11.2018, 22:55
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Re: Job market status

I'm curious too Everyday I pass along vacant office buildings. They are empty since I can remember...

I am looking for a normal job (my dream job) and all the time I am getting an immediate call just after sending my CV, giving me so much hope with words like "thank you so much for your application, you are the perfect candidate, can we set up an interview soon" but then dead line. Enquiring I can get as much as "we are still doing the first round of phone calls, please be patient I will let you know as soon as we start the interviews", just nothing more.
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Old 04.11.2018, 11:06
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Re: Job market status

Don't know about now, but in spring there was a massive void in engineering/natural sciences fields (non-IT). HRs were struggling to find talent and had to hire literally anyone. I had 3 offers and some HRs were coming back to me after having rejected me in late 2017 (i didn't even need to reapply). Some of my friends who struggled to find anything during the whole 2017, got very nice jobs in spring 2018. Right now it seems to have balanced.

At the same time some big companies are not doing particularly well and saving money (travel bans, etc.)
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Old 04.11.2018, 11:42
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Re: Job market status

I have been actively looking around in all of Eastern Switzerland (St. Gallen, Thurgau, Glarus, GraubŁnden) for the best part of 3 or 4 years. There seems to be a stable demand for low and lower mid-management positions, but most of them require in the ads for native German speakers. Not much else, I'm afraid. It may also be related to the fact that there are no big cities anywhere close (except for St. Gallen and to a lesser extent Chur), therefore not as many jobs available to begin with. But to me this market is pretty much as good as dead.
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Old 05.11.2018, 11:20
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Re: Job market status

I'm also quite fascinated by this topic.

On the one hand I see lots of new buildings being put up and the headline GDP figures are 'OK'. Last I remember, overall unemployment figures are relatively low/stable and a totally non-scientific 'survey' of Jobs.ch in my professional area seems healthy (although heavily biased towards Zurich).

There's probably a government stats website somewhere with the details.. I keep meaning to have a look.

On the other hand... I see a lot of 'gloom and doom' indicators.. big company layoffs, empty shops and 'big picture' warnings that money and jobs will continue to flow to the far east. (There was a totally realistic piece recently that pointed out that if batteries are made in China and a huge % of buyers of electric cars will be in China in the next 20 years then.. European car manufacturing is doomed)

There must be a few Economist bods on this Forum.. what are the numbers showing ?????
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Old 05.11.2018, 13:37
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Re: Job market status

From a pharma perspective, I don't think this sector is doing well over the past say 3 to 4 years - maybe more. More layoff's than hirings - due to reorgs adjusting to lower sales or stagnated sales, mergers, and acquistions. Its risky business being in pharma in CH i think, i'm not feeling comfortable 100 percent. Curious of number of unemployed pharma folk out there still looking.


Happy to hear other opinions about pharma sector.
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Old 05.11.2018, 23:17
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Re: Job market status

I started looking for a job now and at least the job market statistics seem to back that the current situation is very good (from tradingeconomics.com):

- Unemployment rate is at a 10-year low, steady at 2.4% for the last 5 months. A year ago it was already in a low 3.0%.

- The number of unemployed persons is also at a ten-year low.

- Job openings and job vacancies (not sure the difference) are considerably above than last year's.

So I guess we can say that even with difficulties in some sectors, statistics show that as whole it is not only promising but better than the last 10 years. Which may also be worrisome because a new (world ?) crisis might be at the door.
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Old 05.11.2018, 23:21
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Re: Job market status

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I'm also quite fascinated by this topic.

On the one hand I see lots of new buildings being put up and the headline GDP figures are 'OK'. Last I remember, overall unemployment figures are relatively low/stable and a totally non-scientific 'survey' of Jobs.ch in my professional area seems healthy (although heavily biased towards Zurich).

There's probably a government stats website somewhere with the details.. I keep meaning to have a look.
https://www.bfs.admin.ch/bfs/it/home...2018-0487.html

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On the other hand... I see a lot of 'gloom and doom' indicators.. big company layoffs, empty shops and 'big picture' warnings that money and jobs will continue to flow to the far east. (There was a totally realistic piece recently that pointed out that if batteries are made in China and a huge % of buyers of electric cars will be in China in the next 20 years then.. European car manufacturing is doomed)

There must be a few Economist bods on this Forum.. what are the numbers showing ?????
From my last post, it seems the "gloomers and doomers" are exaggerating if we look the job market data from the last years.
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Old 05.11.2018, 23:52
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Re: Job market status

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From a pharma perspective, I don't think this sector is doing well over the past say 3 to 4 years - maybe more. More layoff's than hirings - due to reorgs adjusting to lower sales or stagnated sales, mergers, and acquistions. Its risky business being in pharma in CH i think, i'm not feeling comfortable 100 percent. Curious of number of unemployed pharma folk out there still looking.


Happy to hear other opinions about pharma sector.

It's not only pharma. Finance is in a worse shape. Low interest rate, direct banking are causing cost pressure.

Industry is also bad, low margins, a lot of competition, no buyers for a lot of products.

Pharma won't be hit so hard by an incoming crisis, but the current issues will stay. A lot of money badly invested, falling margins, low innovation The only positive thing is that there is still demand. People will continue to get sick.
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Old 06.11.2018, 10:51
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Re: Job market status

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https://www.bfs.admin.ch/bfs/it/home...2018-0487.html



From my last post, it seems the "gloomers and doomers" are exaggerating if we look the job market data from the last years.
Keep us updated as to how your job search is going.
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Old 06.11.2018, 13:18
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Re: Job market status

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I started looking for a job now and at least the job market statistics seem to back that the current situation is very good (from tradingeconomics.com):

- Unemployment rate is at a 10-year low, steady at 2.4% for the last 5 months. A year ago it was already in a low 3.0%.

- The number of unemployed persons is also at a ten-year low.

- Job openings and job vacancies (not sure the difference) are considerably above than last year's.

So I guess we can say that even with difficulties in some sectors, statistics show that as whole it is not only promising but better than the last 10 years. Which may also be worrisome because a new (world ?) crisis might be at the door.
not sure I am replying correctly, sorry if not.

I too have been looking for the passed 6 months. Needed to get an appointment at the RAV and had to wait for 3 weeks, so not so sure the unemployment is that low. The chap I saw told me he was one of the less busy ones.

As to buildings being empty, this does not just apply to office buildings, but also to flats (domestic). Apparently the portfolio would lose on value, if they lowered the rent?

I work in Insurance and have seen loads of lay offs here too. Will be interesting to see what happens next.
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Old 06.11.2018, 21:56
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Re: Job market status

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I too have been looking for the passed 6 months. Needed to get an appointment at the RAV and had to wait for 3 weeks, so not so sure the unemployment is that low.
I second you as I am still getting BS replies from interesting job offers, like I am overqualified for the position or I don't have experience in something so basic as for example holding up a pen - just joking, but I mean very basic things which anyone could learn in a week. The job market is definitely not a good yet.
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Old 06.11.2018, 23:03
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Re: Job market status

Well, if it's any consolation, even as a Swiss person fluent in three languages (including the dreaded Swiss German) it is not easy if you do not fit into a neat little box and/or are trying to change careers into a connected but different area without starting back at the internship stage.
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