While wages in Switzerland rose last year, the benefits were once again cancelled out by rising prices. Nominal wages in the country rose by an average of 1.7% in 2023, the Federal Statistical Office (FSO) announced on Thursday. An increase of 1.8% had previously been forecast. For many workers, however, the wage increases were eaten up by inflation. Taking into account average annual inflation of 2.1%, real wages fell by 0.4% on average, according to the FSO. + Swiss salaries: high, stable, and not enough for many Wages rose by 0.9% in nominal terms in 2022 but dropped sharply, by 1.9%, in real terms, mainly due to an inflation rate of 2.8%. The FSO estimates nominal wage growth on a quarterly basis. The figure is based on cumulative data on gross wage growth, and includes 13th-month salary payments. The figure can change with subsequent estimates. Adapted from German by DeepL/kp How we work This news story has been written and carefully fact-checked by an external editorial team.
