In 2023, the total hours worked in Business Services in Switzerland stood at 3.69 billion hours. Based on the forecasted data, the hours are expected to grow modestly from 3.7 billion in 2024 to 3.76 billion in 2028. The year-on-year variations are as follows: 2024 (+0.27%), 2025 (+0.27%), 2026 (+0.54%), 2027 (+0.27%), 2028 (+0.53%). Over the last two years, the average yearly growth rate is approximately 0.5%. The compound annual growth rate (CAGR) over the next five years is projected to be around 0.3%.
Future trends to watch for include potential impacts of technological advancements, such as automation and AI, which could affect the demand for human labor. Further, changes in economic conditions and labor market policies will also be essential to monitor as they could influence labor hours in the business services sector.
