Surpassing the EU Average: Employment Rate on the Rise
Hungary’s Labor Market Shows Strong Growth, Ranks High in Europe
The Hungarian labor market continues to show remarkable improvement, with recent data indicating strong results at the European level. According to an analysis released by the Ministry for National Economy, Hungary has seen a steady rise in the seasonally adjusted employment rate for the population aged 20-64 since 2010, placing the country in 6th position for both men and women.
In the last quarter of 2024, the employment rate reached 84.8 percent for men and 77.1 percent for women, surpassing the EU average for both genders. Along with the European trend, Hungary also witnessed a decrease in the potential labor reserve compared to the previous quarter.
The effectiveness of employment policy measures is evident in the fact that Hungary now boasts around 1 million more people employed compared to 2010, totaling 4.7 million employed individuals while also experiencing a decline in the number of registered job seekers to an all-time low.
The Ministry emphasized that Hungary’s unemployment rate remains impressively low at 4.4%, standing well below the EU average of 5.7% during the same period. Furthermore, the economic activity of the working-age population (15-64 years old) in Hungary exceeds the European average, with men showing a 0.2 percentage point decrease and women a 0.3 percentage point increase compared to the previous year.
With men’s activity rate at 82.2 percent (ranked 8th in Europe) and women’s activity rate at 74.8 percent (ranked 10th in Europe), Hungary is demonstrating its strong performance in the labor market. The government’s implementation of labor market activation programs has been identified as a key factor in this success.
Overall, Hungary’s labor market is thriving, showcasing positive growth and positioning the country as a standout performer in Europe.
