Aug 31, 2016

The number of Hungarians with jobs has increased by 660,000

Unemployment has fallen to five percent and the number of people employed has increased by more than 150,000 in one year

The number of people in employment has increased by more than 660,000 in the past six years, and unemployment has fallen to 5 percent, Péter Cseresnyés, state secretary for Labor Market and Training, has said.

What's more, there are further reserves of Hungarians coming onto the labor market as some 250,000 people are looking for jobs

Cseresnyés added that there are unfilled work force needs in the catering sector, in agriculture, in the information technology segment and in the processing industry. These needs must be addressed with adequate training and job orientation.

We may have recently observed that there is keen competition on the market for qualified work force, and this is also testified to by the fact that real wages have increased significantly in the last three years, he added.

He stressed that it is in everyone’s best interest, employees, employers and the government included, that the number of people in employment should continue to increase considerably. Further employees can be directed to the labor market with the aid of training and employment policy tools.

Cseresnyés highlighted that number of people in employment has reached a new peak, and the 5 percent unemployment rate marks a record low. No unemployment rate this low has been recorded in the country since the change of regime in 1990.

Thanks to the ongoing expansion of the private sector, the reduction of the taxes on employment, and the job protection action plan, employment is steadily rising in Hungary which also has a positive impact on the development of fiscal revenues and the consumption of households, Cseresnyés stressed.