Hungary’s Registered Jobseekers Decline
Hungary Sees Decrease in Registered Jobseekers
According to the National Employment Service (NFSZ), Hungary had 225,978 registered jobseekers in May, which is 1 percent fewer than the same month last year and a 2 percent decrease from April. In May, 3,070 Hungarians registered as job seekers for the first time, while 26,804 job seekers registered, including repeat registrations.
Of the total jobseekers, 43 percent were receiving no benefits, and 35 percent had been looking for work for over a year. On average, jobseekers were registered for 495 days. Sándor Czomba, the state secretary for employment policy at the national economy ministry, noted that the number of registered jobseekers continued to decline in May, marking the third lowest figure since the political system change in 1990.
Czomba highlighted that there are now 1 million more people employed compared to the previous Socialist-led government, with an average salary three times higher. Additionally, the number of people seeking work has decreased by over 400,000 since 2010. The government aims to further increase employment by tapping into domestic labor market reserves of around 300,000 people and raising employment among 20-64 year-olds from 81 to 85 percent. This initiative will be supported by programs totaling 460 billion forints until 2030.
Meanwhile, service industry professionals predict no significant price hikes at Lake Balaton this year due to labor shortages, which could potentially be alleviated by employing guest workers primarily from third countries.
