Characteristics and drivers of the Swiss “job miracle”

Graff, Michael; Mannino, Massimo; Siegenthaler, Michael (2016). Characteristics and drivers of the Swiss “job miracle”. Review of economics / Jahrbuch für Wirtschaftswissenschaften, 67(1), pp. 53-89. De Gruyter 10.1515/roe-2015-1005

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Switzerland’s employment growth since the early 2000s was very high in both historical and international perspective, despite solid real wage increases and only moderate GDP growth. Yet, the reasons for the remarkable creation of jobs are largely unknown. We aim at filling this gap by studying the underlying characteristics and drivers of the Swiss “job miracle”. We first outline the characteristics of the “job miracle” and show that the observed job growth correlates with a substantial increase in the labor intensity of economic activity. We then discuss five potential drivers of the unprecedented employment growth, which are consistent with the facts. Our empirical results suggest that immigration was the key factor in explaining the “job miracle” as it raised local demand and thereby triggered the creation of additional jobs.

Item Type:

Journal Article (Original Article)

Division/Institute:

03 Faculty of Business, Economics and Social Sciences > Department of Economics

UniBE Contributor:

Siegenthaler, Michael

Subjects:

300 Social sciences, sociology & anthropology > 330 Economics

ISSN:

0948-5139

Publisher:

De Gruyter

Language:

English

Submitter:

Eva Marina Zuberbühler

Date Deposited:

04 Jul 2017 14:40

Last Modified:

04 Jul 2017 14:40

Publisher DOI:

10.1515/roe-2015-1005

Additional Information:

JEL Classification: C52 E24 J21 J61

Uncontrolled Keywords:

labor market; Swiss job miracle; job creation; employment forecasts; migration; local multipliers

BORIS DOI:

10.7892/boris.93174

URI:

https://boris.unibe.ch/id/eprint/93174

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