FX.co ★ Swiss Non-Farm Payrolls Up 0.5% in Q1

Switzerland’s non-farm payrolls increased by 0.5% year-on-year to 5.537 million in Q1 2026, up from a 0.2% rise in the previous quarter. Growth was driven mainly by the services sector, where employment expanded by 0.6% to 4.409 million. This was supported by stronger hiring in administrative and support service activities (2.5% vs 2.3%), public administration (1.7% vs 2.6%), and arts, entertainment and recreation (1.6% vs 1.1%).

By contrast, employment declined in publishing, audiovisual and broadcasting activities (-5% vs -9.3%), telecommunications (-2.3% vs -4.9%), and finance and assurance (-1.5% vs -1.9%).

In the industrial sector, employment edged up 0.1% to 1.129 million, reversing a 0.1% drop in Q4. Gains in mining and quarrying (3.3% vs 4.4%), electricity, gas, steam and air conditioning (2.9% vs 3.6%), and construction (1.3% vs 1.1%) more than offset declines in manufacturing (-0.7% vs -1%) and in water supply and waste management (-0.8% vs 1.9%).