UBS Outlook Switzerland
UBS Outlook Switzerland – how will the labor market respond?
An open and flexible labor market has been one of the highly competitive Swiss economy's undisputed strengths. Just recently, the acceptance of the mass immigration initiative shocked Swiss politics. The implementation of the initiative will challenge Switzerland's bilateral relationships with the EU, and the economic consequences are hard to estimate.
The UBS enterprise survey results, published in this UBS Outlook Switzerland, draws attention to potential consequences. Clearly more than half of the enterprises interviewed stated that they expected negative effects from the acceptance of the mass immigration initiative. Among these, 11% even feared severely negative effects. Businesses especially fear that under the new regulations, they will struggle to find qualified personnel and will face salary increases. In view of the results, we dedicated the special topic of this issue to the labor market after the acceptance of the mass immigration initiative.
UBS Outlook Switzerland comes with the enclosure "Investing in Switzerland," which features opinions and recommendations of CIO analysts for the equity market and bonds in Switzerland.
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