[Switzerland] Real salaries climb by 5-year record high

Switzerland’s Federal Statistical Office released salary data for 2020, on April 30, which showed a 1.5 per cent rise in real salaries compared to 2019, Le News reports.

In 2020, an 0.8 per cent rise in nominal salaries was boosted by inflation of -0.7 per cent, this brought the total increase in the real average Swiss salary to 1.5 per cent. The last time salaries rose so significantly was in 2015 when the real increase was 1.5 per cent.

In both 2015 and 2020, negative inflation of -1.1 per cent and -0.7 per cent significantly boosted nominal increases of +0.4 per cent and +0.8 per cent.

The jump in salaries was not uniform across all sectors in 2020. In some areas, the real salary increase in 2020 was as high as 3.4 per cent (information technology). At the other end of the scale, average real salaries in insurance sank by 1.4 per cent. 

Other sectors with above-average real salary increases included science and technology (+3.4 per cent), metalworking (+2.9 per cent), automotive sales and repair (+2.8 per cent), digital communication (+2.7 per cent), health (+2.4 per cent), retail (+1.9 per cent) and administration and support (+1.6 per cent). (Links via original reporting)

Switzerland’s Federal Statistical Office released salary data for 2020, on April 30, which showed a 1.5 per cent rise in real salaries compared to 2019, Le News reports.

In 2020, an 0.8 per cent rise in nominal salaries was boosted by inflation of -0.7 per cent, this brought the total increase in the real average Swiss salary to 1.5 per cent. The last time salaries rose so significantly was in 2015 when the real increase was 1.5 per cent.

In both 2015 and 2020, negative inflation of -1.1 per cent and -0.7 per cent significantly boosted nominal increases of +0.4 per cent and +0.8 per cent.

The jump in salaries was not uniform across all sectors in 2020. In some areas, the real salary increase in 2020 was as high as 3.4 per cent (information technology). At the other end of the scale, average real salaries in insurance sank by 1.4 per cent. 

Other sectors with above-average real salary increases included science and technology (+3.4 per cent), metalworking (+2.9 per cent), automotive sales and repair (+2.8 per cent), digital communication (+2.7 per cent), health (+2.4 per cent), retail (+1.9 per cent) and administration and support (+1.6 per cent). (Links via original reporting)