Switzerland’s non-farm payrolls increased by 0.2% year-on-year to 5.544 million in Q4 2025, accelerating slightly from the 0.1% rise recorded in the previous quarter.
In the industrial sector, employment declined by 0.1% to 1.129 million, a much slower contraction than the 0.7% drop seen in Q3. The improvement was underpinned by a smaller fall in manufacturing (-1% vs -1.4%), as well as gains in water supply and waste management (1.9% vs 1.8%) and construction (1.1% vs 0%). These developments helped offset a moderation in growth in mining and quarrying (4.4% vs 4.7%).
Employment in the services sector was steady, rising 0.2% to 4.415 million, the same pace as in the previous quarter. This stability masked notable rebounds in several segments, including trade and motor vehicle maintenance and repair (0.4% vs -0.1%), real estate and housing (1.7% vs -3.1%), other business services (2.3% vs -1.1%), and arts, entertainment, and recreation (1.1% vs -0.1%). These gains were partially offset by declines in transport and storage (-0.7% vs 0.7%), hospitality (-0.9% vs 1.3%), and financial and insurance services (-1.9% vs -1.6%).
