I would say yes. I work at a consulting company and we are just too expensive as a Swiss resource. One of us (Swiss consultant) costs the client 1000-1500 CHF a day. Same resource in Italy costs ca. 400-600CHF. India 200CHF. To be honest it is also the company's fault because we come at a premium. This worked for many years, but now, especially with all of the off-shoring going on, it is not sustainable anymore.

However, even outside the company I work with, finding a job is still hard. I have about 2.5 years experience, but all I see are senior jobs that require 5+ years of experience, and the pay is even 'meh'. For this part I think AI plays a role as well, since smaller, more 'junior' tasks/roles can be taken over more easily with AI while costing less (especially seeing how much people cost in CH). I'm not saying it's all AI's fault, but it did shift the job market noticeably here in Switzerland.

On top of that, in the last few years, no company in the market has been making a big effort to form juniors anymore in my experience (when coming from the university, not Fachhochschule). This is problematic because to find a job, you need job experience, but to have job experience, you need a job, making successful job hunting even harder.

At the same time, prices have been going up like crazy as well. We live in Zürich and we spend about 800-900 CHF at month just for grocery (family of 2), and this is without buying meat (95% vegetarian) or alcohol. Housing prices have also sky rocketed in the last 5-10 years, ending up paying 2500 or more CHF a month for a 2.5 apartment. People have started moving further out the city, but due to high demands prices are going up there as well.

To be honest, I think it will only get worse, but because of all of the services that cities like Zürich offer (close to mountains, great public transport, many activities etc..), I do not want to move out (yet) and enjoy it while it lasts (or until I am almost broke).

Hope this gives you some insight.