No. 144, October

The KOF Business Situation Indicator has remained almost stagnant. Whereas it rose sharply in July and August, the indicator hardly increased at all in September (see G 8). After the economy noticeably improved in midsummer, this positive trend is now faltering. The economy is in a precarious position.

Climate change used to dominate the debate – until COVID-19 began to spread. Does the coronavirus crisis eclipse the climate crisis? Or is it indirectly creating a greener economy? This is what we will be discussing at the next KOF Prognosetagung on 22 October, with Swiss Airlines CEO Thomas Klühr, Microsoft Switzerland Director Marianne Janik, Swiss Re expert Nora Ernst, environmental scientist and Green National Councillor Bastien Girod and KOF Director Jan-Egbert Sturm.

More competition, better allocation of resources, higher productivity – that is what European integration should ensure. A recent study of the longer-term effects of integration shows that, while it has led to reforms in product markets, it has had little impact on financial and labour markets. If reforms are brought about nonetheless, this is due not only to the euro but also to the single market.

In Switzerland the proportion of women studying technical subjects is lower than in most other OECD countries. Despite many support programmes, this situation has hardly changed in the last ten years. A study based on new educational data reveals major cantonal differences: in the cantons of Zurich and Zug, for example, twice as many female Matura students embark on STEM courses as in Geneva and Uri.

In Switzerland there is still a significant unexplained pay gap between women and men. It is conceivable that women accept lower salaries because they attach more importance to other factors such as pleasant working conditions. However, the latest findings from a survey of ETH Zurich alumni do not support this theory.