Swiss watch making industry employs record numbers

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The watch making and micro-engineering sector increased the number of people it employs last year by 2.6% to a total of 57,286, according to the Employers’ Federation of the Swiss watch industry.

The growth in the number of jobs had slowed from the highs of 2012 and 2013 but, the Federation said, was news for the sector at a time when exports to Asia had been falling.

Switzerland also recently rejected a proposal to create what would have been the world’s highest minimum wage of CHF 22 per hour (14.70). Three quarters of voters agreed with the government that raising the minimum wage would threaten job security.

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Last year’s figure of 57,286 employees in the watch making industry is an all time high, exceeding a previous peak of 53,300 jobs in 2008 .

The number of firms in the industry increased from 564 to 572 last year.

 

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