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Feb 04, 2021

1.5 million employees and 280,000 employers received government support last year

After an initial plunge in employment at the end of the spring, there has been a steady rebound since the end of the summer.

 

Sándor Bodó, State Secretary at the Ministry of Innovation and Technology (ITM), said around 1.5 million employees and 280,000 employers received government support last year.

According to MTI, Bodó said the support was the main reason why the number of jobseekers stayed below 300,000 last year — among the lowest jobless rates in Europe — in the face of the Covid epidemic. Bodó insisted that Hungary had also been among the most successful countries in managing the crisis alongside Germany, Poland, the Czech Republic and Malta.

After an initial plunge in employment at the end of the spring, there has been a steady rebound since the end of the summer, he said, and by December the number of employees again stood at 4.5 million. Bodó said public investments, mainly in construction, worth HUF 3,000 billion (EUR 8.4bn) planned for this year were being made in a highly responsive sector that could create jobs instantly.

When it comes to R&D investments, multiple returns would be seen in the near future, he said, referring to a wage subsidy for development engineers, researchers and IT specialists relaunched in January. Restarting the economy required high value-added and creative professionals.

Bodó said that whereas past left-wing governments had hiked taxes and squeezed spending in times of crisis, the ruling Fidesz government put an emphasis on preserving jobs and focusing on economic recovery.

Photo credit: koronavirus.gov.hu