Labour Market Trends H2 Switzerland

Between a cooling market and targeted demand for skilled professionals

After years of strong demand, the Swiss labour market is losing momentum. The number of job vacancies fell by 2.4 % in the second quarter of 2026 compared with the previous quarter. At the same time, job cuts at major employers in financial services, industry and other sectors are creating movement in the market.

However, this overall cooling masks significant differences: while demand is declining in some occupational fields, skilled professionals in healthcare, industry and manufacturing, as well as IT, continue to be sought after. The increasing use of artificial intelligence is also changing the skills companies require.

Our Labour Market Report 2026 highlights these developments using the latest data.

Three key developments

Job cuts are shaping current market developments

Several major Swiss employers have announced job cuts. UBS, for example, plans to cut around 3,000 jobs in Switzerland by 2027. Companies such as Novartis, Kuehne+Nagel, Helvetia and Baloise, Sunrise, SRG and Globus are also reducing their workforces.

In addition to consolidation following mergers, changing economic conditions are also affecting workforce decisions. As a result, the job market remains subdued: in the second quarter of 2026, the number of advertised vacancies fell by 2.4 % compared with the previous quarter.

Demand varies significantly between occupational groups

The overall development of the job market tells only part of the story. Demand for healthcare professionals increased by 17 %, while demand for industry and manufacturing specialists rose by 12 % and demand in IT by 6 %. By contrast, scientific, commercial and business profiles recorded double-digit declines.

For employers, it is therefore becoming increasingly important to take a differentiated view of individual functions and qualifications. At present, it is difficult to speak of a uniform Swiss labour market.

AI skills are becoming part of the labour market

Artificial intelligence is not only changing individual tasks but is also becoming increasingly embedded in the existing labour market. More than CHF 80 billion in salaries is now attributable to roles in which work is augmented by AI.

This suggests that employees who are confident in using AI in a practical way will remain in demand even when overall demand for staff is weaker. Increasingly, what matters is the combination of professional expertise and the ability to integrate new technologies effectively into day-to-day work.

What does this mean for employers?

A decline in job vacancies does not automatically mean that qualified professionals are easier to find. What matters is the areas in which companies are recruiting. While the candidate market is easing in some functions, competition for sought-after specialists remains strong in others.

For employers, this means aligning their recruitment strategies more closely with specific functions and required skills. At the same time, it is becoming increasingly important to consider which skills will gain relevance as the use of AI increases and how existing employees can be developed accordingly.

Access to international skilled professionals also remains relevant. Continued high levels of cross-border mobility are expanding the talent pool and providing companies with additional opportunities to attract skills that are only available to a limited extent in the Swiss market.

Download the Labour Market Report 2026 free of charge to access the full analysis of the Swiss labour market.

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