Despite the negative impact of the suspension of the Swiss Franc minimum exchange rate in January 2015, employment growth increased slowly in 2015 compared to 2014. However, consumer and business confidence remained subdued. As employment growth is a lagging economic indicator, poor business confidence suggests unemployment increase is expected for 2016. Large companies such as Zurich Insurance, Credit Suisse and Alstom, have already announced significant job cutting programs. Consequently, the office market is expected to come under pressure in 2016.
Source : BNP Paribas Real Estate