Today in Switzerland: A roundup of the latest news on Friday
Switzerland ranked the world’s most innovative country, developments on the job market, and other news in our roundup on Friday.
Switzerland gets one more honour
After being named the Best Country in the World by US News & World Report this week, Switzerland also won the title of the world’s most innovative nation on Thursday.
This title is bestowed each year by the World Intellectual Property Organization (WIPO), a United Nations agency headquartered in Geneva.
Switzerland is not exactly a newcomer to this index, having been chosen for the top spot among more than 130 countries for the 12th consecutive year.
Switzerland tops the ranking because “it leads globally in innovation outputs, and specifically in patents by origin, software spending, and high-tech manufacturing", WIPO said.
1. Switzerland🇨🇭
2. U.S.🇺🇸
3. Sweden🇸🇪
4. U.K.🇬🇧
5. Netherlands 🇳🇱
Are the world’s most-innovative economies according to WIPO's #GlobalInnovationIndex (GII) 2022: https://t.co/c4qyhWsY39
China🇨🇳 approaches the top 10; India🇮🇳 and Türkiye🇹🇷 enter the top 40 for the first time pic.twitter.com/fXcmYNs7FZ
— World Intellectual Property Organization (WIPO) (@WIPO) September 29, 2022
READ MORE: Switzerland ranked ‘best country’ in the world
Swiss job market still going strong
New data from Michael Page recruitment agency indicates that jobs are plentiful in Switzerland: 15.6 percent more now than at the same time in 2021.
The strongest increase — 16.7 percent — is reported in the Lake Geneva region, which encompasses Geneva and Vaud.
In terms of jobs, the biggest demand is in the social sector, where the number of job listings has gone up by 48.2 percent.
Next is banking (40.3 percent), followed by administrative positions (37.2).
Not surprisingly, demand in the energy sector also went up — by 22.8 percent.
Mortgage rates have gone up in Switzerland
The rates have risen sharply since the Swiss National Bank (SNB) increased the key interest rate by 0.75 percentage points on Friday.
New 10-year fixed mortgages, the most popular in Switzerland, saw their rates rise to 3.21 percent, against 2.94 percent in mid-June, according to a new study by Comparis price comparison site.
Rates on other terms also rose, with the five-year mortgage now at 3.0 percent from 2.54 in June. As for the 15-year mortgage, it reached 3.39 percent, compared to the 3.06 percent three months ago.
"The SNB's decision to raise key interest rates took the markets by surprise”, said Leo Hug, Comparis’ money expert.
READ MORE: EXPLAINED: What the steep rise in Swiss interest rates could mean for you
Switzerland to go vegetarian tomorrow
On October 1st, the country will be celebrating the "Swisstainable Veggie Day", with numerous restaurants throughout Switzerland offering "varied and creative" vegetarian meals on this day.
The vegetarian-only menu will also be served to Business Class passengers on board SWISS and Edelweiss planes, and all McDonald’s restaurants will also have only no-meat dishes on this day.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
Comments
See Also
Switzerland gets one more honour
After being named the Best Country in the World by US News & World Report this week, Switzerland also won the title of the world’s most innovative nation on Thursday.
This title is bestowed each year by the World Intellectual Property Organization (WIPO), a United Nations agency headquartered in Geneva.
Switzerland is not exactly a newcomer to this index, having been chosen for the top spot among more than 130 countries for the 12th consecutive year.
Switzerland tops the ranking because “it leads globally in innovation outputs, and specifically in patents by origin, software spending, and high-tech manufacturing", WIPO said.
1. Switzerland🇨🇭
— World Intellectual Property Organization (WIPO) (@WIPO) September 29, 2022
2. U.S.🇺🇸
3. Sweden🇸🇪
4. U.K.🇬🇧
5. Netherlands 🇳🇱
Are the world’s most-innovative economies according to WIPO's #GlobalInnovationIndex (GII) 2022: https://t.co/c4qyhWsY39
China🇨🇳 approaches the top 10; India🇮🇳 and Türkiye🇹🇷 enter the top 40 for the first time pic.twitter.com/fXcmYNs7FZ
READ MORE: Switzerland ranked ‘best country’ in the world
Swiss job market still going strong
New data from Michael Page recruitment agency indicates that jobs are plentiful in Switzerland: 15.6 percent more now than at the same time in 2021.
The strongest increase — 16.7 percent — is reported in the Lake Geneva region, which encompasses Geneva and Vaud.
In terms of jobs, the biggest demand is in the social sector, where the number of job listings has gone up by 48.2 percent.
Next is banking (40.3 percent), followed by administrative positions (37.2).
Not surprisingly, demand in the energy sector also went up — by 22.8 percent.
Mortgage rates have gone up in Switzerland
The rates have risen sharply since the Swiss National Bank (SNB) increased the key interest rate by 0.75 percentage points on Friday.
New 10-year fixed mortgages, the most popular in Switzerland, saw their rates rise to 3.21 percent, against 2.94 percent in mid-June, according to a new study by Comparis price comparison site.
Rates on other terms also rose, with the five-year mortgage now at 3.0 percent from 2.54 in June. As for the 15-year mortgage, it reached 3.39 percent, compared to the 3.06 percent three months ago.
"The SNB's decision to raise key interest rates took the markets by surprise”, said Leo Hug, Comparis’ money expert.
READ MORE: EXPLAINED: What the steep rise in Swiss interest rates could mean for you
Switzerland to go vegetarian tomorrow
On October 1st, the country will be celebrating the "Swisstainable Veggie Day", with numerous restaurants throughout Switzerland offering "varied and creative" vegetarian meals on this day.
The vegetarian-only menu will also be served to Business Class passengers on board SWISS and Edelweiss planes, and all McDonald’s restaurants will also have only no-meat dishes on this day.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.