Swiss army knives and more, still selling
Geneva, Switzerland (GenevaLunch) - The canton of Geneva moved out of its recession and into growth by the second quarter of 2009, six months ahead of the rest of Switzerland, and it now looks set to have a GDP (gross domestic product) of CHF45 million, growth of 0.5-1 percent in 2010, predicts the BCGE (Banque Cantonale de Geneve). The growth is closely linked to Geneva’s strong ties with Asian trading partners, but retail businesses have remained strong throughout the recession, and consumers are expected to lead the way with 3.5 percent growth in this area, followed by services (health, education, government and semi-public business), which account for 20 percent of cantonal GDP.
Banks are expected to show zero growth and therefore have a neutral impact on the canton’s GDP growth figures next year.
Links to other sites: BCGE, Tribune de Geneve
Foreigners at top end out-earn Swiss
Neuchatel, Switzerland (GenevaLunch) - Top managers’ salaries in Switzerland have continued to rise “sharply”, especially in the financial field, since 2006, and the spread between Switzerland’s lowest paid workers and highest increased, a preliminary government statistical report shows. Well-qualified foreign workers and those with long-term C residence permits out-earn their Swiss counterparts while foreigners with lower qualifications and some border workers earn less than Swiss people in comparable jobs.
Salaries, bonuses for insurers, bankers up sharply 2006-2008
The Swiss Statistical Office Tuesday 17 November issued its preliminary report on salaries in 2008. Salaries remained mostly stable, it shows, with the financial sector an exception: salaries and bonuses both rose, with top managers’ salaries increasing 38.8 percent from 2006-2008, compared to an 11.6 percent increase for top managers in all other fields.
