Report of the “Labor Shortage” working group with the participation of the Liechtenstein Institute

13 May 2024 - News
On 8 May 2024, Minister of Economic Affairs Sabine Monauni, Brigitte Haas (Liechtenstein Chamber of Commerce and Industry) and Ivan Schurte (Liechtenstein Chamber of Commerce) presented the report of the “Labor Shortage” working group on measures to increase labor force potential and labor force participation. The Liechtenstein Institute was also involved in its preparation.

The existing labor shortage poses major challenges for the Liechtenstein economy. In view of demographic trends, the shortage of labor will continue to increase in the coming years. Combating the labor shortage requires joint efforts from politics and business.

With this in mind, in 2023 the government set up a working group made up of representatives from government agencies, business and academia to analyze the effects of the increasing shortage of skilled workers and labor on Liechtenstein as a business location and to examine specific measures. Andreas Brunhart from the Liechtenstein Institute was also a member of the working group and provided the basic analysis “Labor shortage from a macroeconomic perspective”, which was also included in the working group report.

This report by the working group contains an analysis of the labor shortage in Liechtenstein and identifies specific fields of action and measures to increase the attractiveness of the Liechtenstein labor market. Based on an analysis of the strengths and weaknesses of Liechtenstein as a place to work, the working group identified three fields of action: The first field of action outlines measures for training and continuing education, the second field of action highlights measures to increase labor force participation and expand labor force potential, and the third field of action focuses on attracting and retaining workers.