Jobs in the finance industry
The labour factor has been applied prolifically in the financial sector providing jobs for approximately 90,000 people in the Zurich region.The financial sector thus directly employs nine percent of the labour force in the region. A key reason for the high workforce productivity are the hub functions performed by the Zurich region’s financial sector which is predominately shaped by major banks, life insurances, reinsurances and investment companies. By contrast, cantonal and regional banks, health insurance companies and insurance brokers are more strongly represented in other parts of Switzerland.
Persons employed in the Zurich financial centre, 2019
The banks and insurance companies are key pillars of the local labor market. The banks provide approximately 43,000 and the insurance companies approximately 19,000 jobs (measured in full-time equivalents). This corresponds to roughly six percent of all jobs in the Zurich region. If other financial services providers are added to that total, as many as one in nine jobs in the Zurich region depend on the financial sector.
In 2019, the hourly productivity in the Zurich region’s financial sector amounted to approximately 176 Swiss francs.