Swiss temporary staffing industry remains under pressure in Q3
Published: Tuesday, Oct 31st 2023, 10:21
Aktualisiert am: Mittwoch, 1. November 2023, 00:55
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The pressure on the Swiss temporary staffing industry did not ease in the third quarter. The difficult development of the first half of the year is thus continuing.
The temporary staffing business recorded a 7.6 percent drop in turnover in the third quarter of 2023, according to the Swiss Staffing Index published on Tuesday. This accelerated the downward trend since the first quarter, when a decline in sales was recorded for the first time in three years.
The slowdown in the economy and the shortage of labor in particular made life difficult for temporary staffing agencies, according to the report. There is a lack of suitable candidates for vacancies, and demand for temporary staff is falling in industry as order backlogs dwindle.
Permanent placement business is running smoothly
In contrast, business with permanent placement agencies is running smoothly. According to the experts, when companies are short of skilled workers, they seek the support of personnel service providers due to the dried-up labor market. This is reflected in the 6.8 percent increase in sales in the third quarter.
In general, there are signs of a soft landing for the Swiss labor market. According to barometers from Manpower and Adecco, things continue to go particularly well in sectors such as communications services, transport and logistics, energy and utilities, but also in the industrial sector. "Even though layoffs are difficult for those affected in any situation, the starting point for job searches remains optimal despite the economic downturn," explains Swissstaffing economist Marius Osterfeld.
The Swiss labor market is also in a stable position for the future - even if geopolitical risks remain high. The liberal labor market is providing stability, domestic consumption is providing support, and the problems in the supply chains have eased. This lays the foundation for a recovery.
©Keystone/SDA
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