Even though the health crisis plunged Switzerland’s economic activity into a slump, the country’s economy proved to be more resilient than other countries’, according to research carried out after the first wave in August 2020.

There are several reasons for this phenomenon. Firstly, Swiss economy was already sturdier than many others before Covid struck, so was in a better position to withstand the crisis.

Additionally, the government-run insurance scheme paid out most wages to people on shortened work hours, in addition to loans and grants issued to struggling companies.

But Switzerland was also one of the very few countries that have been able to attract international companies to its shores even in the midst of the pandemic, which translated into more jobs for the local workforce.

Experts believe this is due to the country’s strengths, including political, economic and financial conditions.

“Even in a time of crisis, Switzerland scored thanks to its stability, predictability and security”, said Patrik Wermelinger, member of the executive board of Switzerland Global Enterprise (SGE), which promotes the country abroad on behalf of the federal government and the cantons.

There are other reasons as well that had prompted foreign companies to come to Switzerland during the pandemic.

“Protection of legal rights, freedom, and personal responsibility are stronger in Switzerland than in many other countries, even in times of pandemic”, said SGE’s co-president Walter Schönholzer.

Also, “the Swiss economy was able, more than many other countries, to work remotely. With the exception of the hospitality and construction sectors, the other branches of the economy have functioned at least 60 percent”, according to Arturo Bris, director of the Competitiveness Centre at International Institute for Management Development in Lausanne.

And yet another reason why many people kept their jobs during the pandemic is that Switzerland continued, though at a lesser scale, to export its goods.

“Switzerland is a country that functions well in normal times, but it excels in times of difficulty”, Bris added.

That has been  the overall situation, but which Swiss regions are doing better than others in terms of employment, and why?

Even though Zurich, along with other large Swiss cities like Geneva, Basel, Bern and Lausanne, have been hit hard by the pandemic from the employment perspective, Zurich’s labour market is now growing faster than in other urban centres.

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One of the reasons for this upward trend is that young, well-educated foreigners are coming back.

In the first nine months of 2021, the city’s population grew significantly. In September alone, it recorded 2,200 additional residents.

This is mainly due to people with a B residence permit, according to Klemens Rosin, methodologist at Zurich’s Statistics Office.

During the crisis, far fewer of them left the city. “This group is made up of well-educated, younger and mobile foreigners who have made a significant contribution to Zurich’s growth”, Rosin said.

Zurich’s employment market is expect to grow even further.

That’s because in the coming years, many Zurich  workers will retire — an estimated  210,000 by year 2050 — creating more job opportunities for younger employees.

In fact, according to a study commissioned by the canton in 2021, if Zurich’s economy is to continue to flourish, it will need around 1.37 million workers by mid-century.

If these vacancies will not be filled, then income, tax revenue and the financing of social security programs will be impacted.

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While it is difficult to predict what jobs will be most in demand in 2050 — what new technologies will emerge in the meantime — right now and in medium term, IT workers will be especially needed, experts say, because businesses will continue to to digitalise and automate.

Lower skilled jobs will also be in higher demand, including hospitality, retail and transport. 

With hundreds of thousands of vacancies to fill, people with the permission to work in Switzerland are likely to be flush with offers – particularly skilled workers with recognised qualifications. 

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