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Due to the economic effects of the crown pandemic, the salary round for 2021 is likely to be poor for many employees. Leading bank UBS expects wages to stagnate on average, while the job portal Jobcloud offers just under half of its employees a higher salary.
According to its salary survey released on Thursday, UBS expects the salary round to be lower than in the past 20 years. Specifically, the bank assumes an increase in the average nominal wage in Switzerland of 0.3 per cent for 2021: “This is the lowest increase since 1999,” the UBS economists write. If you include the 0.2% forecast for next year, “wages are likely to stagnate in real terms,” experts say.
Mostly a zero round
After all: In more than half of all industries, a zero round can be expected, but at the same time, there are no wage cuts across the board. None of the companies surveyed are planning pay cuts, he says. Conversely, nominal wage increases cannot be assumed for 12 of the 22 sectors surveyed in 2021. This in turn means that, including inflation, more than half of the workforce in Switzerland will have to accept a 0.2 percent decline. of real wages.
A survey by the job portal Jobcloud arrives at similar results regarding the 2021 salary round. According to the analysis also published on Thursday, more than half of Swiss employers (55%) do not want to raise wages next year. Others are planning to only selectively raise wages (36%) or even adjust all wages upwards (9%).
Meanwhile, the best prospects for wage increases are in small and medium-sized businesses. For example, 63% of SMEs in German-speaking Switzerland and 43% of small businesses in French-speaking Switzerland said they would like to raise wages generally or selectively in 2021. In general, according to Jobcloud, only one in five employees expects an increase salary.
Particularly negative in tourism
Looking at individual sectors, UBS’s payroll survey states that wage cuts are logically foreseeable in those sectors that have been and are still most severely affected by measures to combat the crown pandemic.
This includes the tourism sector, where UBS also brings together gastronomy, culture, sport and education. But even for companies in economically sensitive parts of the industry, as well as in the watch and jewelry industry, a round zero can be expected. (pbe / SDA)
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