The Swiss wage index is an annual indicator of gross wage growth, including the 13th monthly salary. Since 2011, the indices and variations have been broken down by economic activity according to the General Classification of Economic Activities 2008 (NOGA08 / NACE08) and by sex.
Wage growth in 2017
Nominal wage increase of 0.4%
Real wages decline by -0.1%
The Swiss nominal wage index rose by +0.4% on average in 2017 compared with 2016 (+0.7% in 2016 and +0.4% in 2015). It settled at 101.1 points (base 2015 = 100). This nominal increase confirms a trend of wage moderation that has been observed since 2010 with rates of no more than +1.0%. Given an average annual inflation rate of +0.5%, real wages registered a decline of -0.1% (101.0 points, base 2015 = 100).
Decisions on pay rises in 2017 were generally made at the end of 2016 when the Swiss economy had regained some buoyancy. At that time, the inflation rate for 2017 was estimated at +0.3%. However, as inflation subsequently rose to +0.5%, the purchasing power of wages fell slightly to -0.1%. By way of comparison, in the context of the main collective labour agreements (CLA) covering almost half a million employees, the increase in real wages negotiated for 2017 was +0.5%.
|Nominal wages in %
||Real wages in %|
Wage growth by economic branch in 2017
Nominal wages increased by +0.4% in the industrial sector (+0.4 in 2016, +0.5% in 2015 and +0.9% in 2014). The tertiary sector recorded an increase in nominal wages of +0.4% (+0.8% in 2016, +0.3% in 2015 and +0.7% in 2014). The secondary and tertiary sectors both recorded a decline in real wages of -0.1%. The majority of economic activities saw a decline in their real wages ranging from -0.8% to -0.1%.
Statistical sources and concepts