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Operational Group: More than 95,000 jobs have already been saved

May 19, 2020 - Zoltán Kovács

In the past two weeks, more than 2,700 companies have applied to the government’s wage subsidy program, saving tens of thousands of jobs nationwide. Meanwhile, the coronavirus continues to spread the fastest in Budapest.

News in Brief

Coronavirus Update: Nearly 100,000 jobs saved so far

May 19, 2020

In the past two weeks, more than 2,700 companies have applied for the government’s wage subsidy program saving tens of thousands of jobs nationwide.

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HUF 12 billion pot available for SMEs to create jobs in Hungary

Feb 06, 2020

SMEs can submit applications for part of a HUF 12 billion fund if they can commit to increasing their number of employees by at least three.

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Government provides HUF 43.5 billion to help disabled people find jobs

Jan 03, 2020

Surveys have found that businesses tend to be satisfied with the work of their disabled employees and willingness to employ them is increasing.

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FM: German companies have created over 300,000 jobs in Hungary

Jun 13, 2019

The FM pointed out that the Hungarian and German economies are mutually dependent on one another, and that 30 percent of Hungary’s foreign investments come from Germany.

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Hungary’s rolling average three-month jobless rate has fallen to 3.7 percent

Nov 28, 2018

KSH figures show that there were 172,900 unemployed in Hungary in August-October, 5,300 fewer than in July-September and 10,600 fewer than in the same period in 2017

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Indian plastic packaging firm to build new 23 billion HUF (71.5m EUR) plant in Rétság

Nov 22, 2018

Flex Films will receive a 2.8 billion HUF grant for the investment which will create 170 new jobs and help generate the local economy

News in Brief

Ford opens new service center in Budapest

Sep 17, 2018

Ford will employ 700 people in Hungary, mostly young professionals with university degrees who speak several languages

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Hungary is first Eastern European country to host the renowned EuroSkills contest

Sep 17, 2018

EuroSkills, a biannual competition that showcases the best young skilled professionals on the continent, is expected to draw almost 100,000 visitors to Hungary on September 26-28th

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Hungary’s unemployment rate has dropped 4.2 percent in a year

Aug 30, 2018

According to statistics released by the Central Statistical Office (KSH), while Hungary’s rolling average jobless rate dropped year-on-year, it stood at 3.6 percent in May-July

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Study finds that 30 percent of employees in Hungary have flexible working hours

Jul 24, 2018

In Hungary, 74 percent still work in traditional settings while 30 percent have experienced a shift towards flexible work

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Number of Hungarian graduates finding jobs when leaving university is one of highest in Europe

Jul 18, 2018

Official figures show that 85 percent of Hungarian graduates find jobs when leaving university

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Bosch expands European operations in Hungary

Jul 11, 2018

More R+D jobs for local and international workers are in the pipeline

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Hungary’s unemployment rate hits an all-time low of 3.7 percent

Jun 29, 2018

The finance minister said income has been increasing thanks, in part to the six-year wage agreement, and the number of people in employment has also been rising in Hungary

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Government provides funding for student jobs this summer

Jun 05, 2018

The Finance Ministry has earmarked 3 billion HUF (9.4 million EUR) for the summer-focused program

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Economy Ministry: Working in Hungary is becoming “increasingly worthwhile” thanks to tax cuts and pay rises

May 02, 2018

Hungary’s GDP growth rate of above 4 percent suggests that wages are likely to grow in the coming period, leading to increased employment and a continued rise in living standards

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Figures show that Hungarians with a job rose by more than 750,000 compared to 2010

Mar 29, 2018

The Hungarian model is working and the economy is growing at a robust rate. The jobless rate is falling and wages are increasing

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Audi Hungária announces new R&D base to be built in Győr

Feb 20, 2018

Hungarian automotive industry moves from 'Made in Hungary' to 'Invented in Hungary'

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The highest paid jobs in Hungary revealed

Feb 08, 2018

Data from the Hungarian Central Statistical Office (KSH) revealed that the highest paying job in Hungary is in Csongrád county

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Unemployment in Hungary hits a new record low

Feb 05, 2018 - Zoltán Kovács

The latest numbers are out. Unemployment has reached a record low of 3.8 percent. According to 2017 fourth quarter data released last week by the Central Statistical Office, unemployment has been on the decline for 66 consecutive months.

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Ada expands Hungarian operations creating more than 100 new jobs

Jan 15, 2018

Péter Szijjártó, minister of Foreign Affairs and Trade, said the group will increase production capacity with an investment of 5.2 billion HUF (16.8 million EUR), towards which the Hungarian government will provide one billion HUF in non-returnable funding

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Hungarian wages set to increase by 10 percent in 2018

Jan 08, 2018

A hot labor market is causing firms to increase wages up and down the country

Blog

People need work not welfare checks to escape poverty

Jan 04, 2018 - Zoltán Kovács

When the Orbán Government entered office in 2010, the prime minister said that Hungary would offer employment over welfare checks. Critics quickly denounced it as inhumane. Seven years on, 741 thousand more Hungarians have jobs. Tens of thousands that suffered from long-term unemployment have rejoined the active labor force, reclaiming their dignity and self-respect, and it has helped many out of poverty.

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Minister's year-end review: Unemployment and taxes down, wages up, and government will continue to fight the 'Soros plan'

Dec 13, 2017

The government has created 700,000 new jobs, increased the minimum wage from 73,500 HUF in 2010 to 127,500 HUF today, and is fighting the migrant crisis for all of Europe

Blog

Hungary's record-breaking employment rate [VIDEO]

Dec 12, 2017

Since the fall of communism, Hungary's employment rate has never been as high as it is now.

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Hungary’s employment rate in the 20-64 age group nears 75 percent

Dec 07, 2017

Csaba Dömötör, parliamentary state secretary at the Cabinet Office of the Prime Minister, said a consensus in Hungary had emerged on applying the principle of “offering work instead of benefits”

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Hungary's unemployment rate is the lowest in almost 30 years

Nov 30, 2017

The current unemployment rate is at the lowest point since Hungary’s regime change in 1989-90, said Péter Cseresnyés, state secretary at the Ministry for National Economy

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The Hungarian model is working – lowest unemployment since 1989

Oct 31, 2017 - Zoltán Kovács

With record-low unemployment, steadily increasing wages and other rock-solid indicators, the Hungarian economy is healthier than it’s been in years. The economic performance of Central Europe has become the driving force for growth in the EU, but that’s not the only reason why Hungarians can now be proud of their achievements over the course of the last seven years.

News in Brief Prime Minister

PM Orbán says success of central Europe is thanks to the power of the Visegrad Group

Oct 27, 2017

“The economic growth of the four Visegrád Group (V4) countries is outstanding," the prime minister said. “If we do not count the performance capabilities of our four countries, there is practically no economic growth within the European Union. Central Europe is Europe’s safest and most rapidly developing region"

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Hungary's labor shortage is the biggest challenge for businesses

Oct 11, 2017

Official figures show that 86 percent of the 400 managers who responded to the survey said their companies "struggle to find experienced labor and 71 percent said hiring career-starters is difficult"

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PM Orbán holds talks with Bosch to push research and development agenda

Sep 07, 2017

Bosch is Hungary’s largest employer. The company currently employs more than 15,000 Hungarians at plants in Budapest and other cities

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A job preservation scheme launched by the government has helped keep 907,000 Hungarians in work

Sep 05, 2017

Some 554 billion HUF (1.8bn EUR) in tax preferences have helped businesses employ more Hungarians

News in Brief

Unemployment hits a record low 4.2 percent in May-July

Aug 31, 2017

The jobless rate of 4.2 percent “after a steady decline in the unemployment rate for 61 months, is due to the substantial growth of the economy and the government’s successful employment policy," according to the ministry for National Economy

News in Brief

Unemployment among Hungary's youth has decreased by one sixth over 10 years

Aug 18, 2017

According to a Eurostat survey published on International Youth Day, the number is attribute to young people aged between 20 and 24 years who are not studying or working

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Hungary's jobless rate falls to 4.3% and 77,000 more jobs created in a year

Jul 27, 2017

The employment rate of people aged 15–64 increased to 68.1 percent. The level of employment was higher among men than among women, and the rate of improvement was also higher for them

News in Brief Prime Minister

PM Orbán officially opens new pasta production plant for Balogh Tészta Zrt. in Tiszakécske

Jul 14, 2017

PM Orbán talked about how the Hungarian economy and job market is booming. He said that there are hardly any unemployed people in the country, and those who want to work can find jobs

News in Brief

Wizz Air expands its business in Budapest creating new jobs

Jun 29, 2017

Wizz Air now holds the accolade of being the largest low-cost airline in eastern and central Europe and is going from strength-to-strength

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Hungary's jobless rate falls to 4.4 percent

Jun 28, 2017

The economy ministry said that 500,000 jobs had been added to the private sector since 2010. The jobless rate among 15-24 year-olds has dropped by an annual 3 percentage points, to 10.8 percent

News in Brief

Siemens invests 10 billion HUF on expansion in Hungary

Jun 21, 2017

Hungary's foreign minister said that the investment was a joint step towards moving the Hungarian economy and Hungarian industry forwards into a new dimension, a digital era based on research and development and innovation

News in Brief

Hungary at the forefront of 5G technology

Jun 20, 2017

László Parragh, head of the Hungarian Chamber of Commerce, said 5G technology in telecommunications opens new dimensions in economic and industrial development

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Hungarian government increases 2018 budget to help families, employment and security

Jun 12, 2017

The government will allocate an extra 1,000 billion HUF to this year's overall spend, which has been made possible by the country’s recent economic growth

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IKEA opens largest store in Central and Eastern Europe in Budapest's 23rd district

Jun 12, 2017

The 33,500 square-meter facility will be one of the largest in the region, and will create almost 300 new jobs in Hungary

News in Brief

Economy at the “highest since the fall of communism” after investments in Hungary rose by an annual 34.1 percent

May 31, 2017

“If investment growth is sustained, even if not at such a high pace, the investment rate will also grow, which in turn boosts job creation and helps secure the targeted economic growth rate of 4 percent in 2017 and 2018," Hungary's economy minister said

News in Brief

Hungary’s unemployment rate has fallen by 1.3 percent

May 26, 2017

The average number of employed people in Hungary is 4.378 million, 84,000 more than this time last year.

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Full employment seen in several Hungarian counties

Apr 07, 2017

Hungary will most certainly be able to meet its promise to the EU to achieve 75 percent employment rate in the 20-64 age group by 2020

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China's BYD opens new electric bus plant in Komárom

Apr 05, 2017

Hungary’s vehicle industry produced goods to a value of 7,874 billion HUF in 2016. Some 92.4 percent of this was for export and the sector employs 155,000 people

News in Brief

GlaxoSmithKline to upgrade Gödöllő plant creating new jobs

Mar 14, 2017

The British company will increase production on vaccines to cater for the growing demand worldwide, creating 104 new jobs

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Hungary signs defense agreement with Swiss technology company

Mar 02, 2017

RUAG is one of the world’s one hundred most important defense industry companies, and plans to manufacture fuselage elements for its Airbus 320 and Bombardier aircraft at its plant in Eger. The investment will create 180 new jobs. The government is contributing 382 million HUF in non-returnable funding towards the project

News in Brief

Hungary’s unemployment rate falls by nearly two percent in just one year

Feb 27, 2017

There were 197,600 unemployed in Hungary in November-January, 7,400 fewer than in October-December and 81,600 fewer than in the same period a year earlier

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Japan is Asia's biggest investor in Hungary

Feb 14, 2017

151 Japanese companies employ a total 31,000 people in Hungary, and seven of those businesses have been included in the government’s strategic partnership program

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BP invests 8 billion HUF in Hungary

Sep 27, 2016

Plans for BP's new shared service center will see the employment of 500 highly-qualified people by 2020

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Samsung SDI invests one hundred billion HUF in Hungary

Aug 30, 2016

As FDI has seen a substantial uptick, this investment will further stimulate an already growing economy and create 600 new jobs for local residents