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2nd free book: Payot appeals to the Council of State VS

2nd free book: Payot appeals to the Council of State VS

The growth of the Vaud economy should slow down next year. In a turbulent international context, where inflation affects all sectors, companies in the canton also suffer from a constant labor shortage.

After 2.5% this year, GDP growth in Vaud should show only 1.4% in 2023. This slowdown should still be less strong than for Switzerland as a whole and less “drastic” than in other eurozone countries, he estimated said Claudio Bologna, project manager at Statistics Vaud, on Tuesday during a press conference in Lausanne.

According to him, the Canton will always be able to count on its demographic growth in order to maintain strong domestic demand. Exports, if following the trend of recent months, will also remain strong, particularly in watches, jewellery/jewelry and medical devices.

“A sharp slowdown is expected in 2023, but we must remain confident in the canton of Vaud,” added Patrick Zurn, economic director at the Vaud Chamber of Commerce and Industry. He recalled the diversity of the economic fabric of the canton, “the strength that allows it to withstand shocks more easily, as it has often shown in the past”.

However, “the list of uncertainties is long and varied,” warned Patrick Zurn. A list that mixes inflation, rising interest rates, the strength of the franc, the energy crisis or even, in general, the geopolitical context.

young people assure

Various representatives of the economic sectors of Vaud, present on Tuesday in front of the press, also all insisted on the problem of labor shortage. In construction, the shortage is particularly pronounced in trades related to the energy transition, for example for the installation of solar panels.

“It is a real challenge to find this qualified staff,” admitted Nicolas Tripet, communications manager of the Vaud Federation of Entrepreneurs. According to him, a lot of work needs to be done to “promote” these crafts among young people and their parents. We have to show young people that if they want to devote themselves specifically to the climate, they can do so by choosing a construction trade, he pointed out.

Digital transition in danger

In industry, hospitality and many service industries, the lack of workers is also an obstacle to smooth business operations. The president of Groupement romand de l’informatique Albin Baptista took the example of IT companies of which “eight out of ten cannot hire the staff they need”.

He assessed this situation as particularly “critical”, knowing that many companies are in the process of digitizing their operations. “Some companies, especially the smallest ones, will not be able to make that transition,” due to the lack of qualified personnel, he warned.

This article was automatically published. Source: ats

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