National Economy Minister Márton Nagy announced the launch, from May 16, of 150 billion forints (EUR 388.2m) in subsidies to bring Hungarians over the age of 30 back into the labor force.
Minister Nagy said the program is expected to support the placement of at least 77,000 people in jobs, including 50,000 or more disadvantaged Hungarians. The government aims to tap Hungary’s 300,000-strong labour market reserve, he added. The European Union-funded scheme targets jobseekers and inactive Hungarians over 30 with subsidies for wages, the cost of commuting or accommodations, and training. The government aims to increase the employment rate in the 20-64 age group to 85% by 2030 from the current 81%, Nagy said. Hungary, he said, had one of the highest employment rates and lowest jobless rates in the EU, but the government wanted to improve these indicators further. He said the aim was to get the economically inactive to enter the job market, adding that guest workers could be brought in once the existing labour reserves were exhausted. Nagy said 40,000 jobseekers from the 300,000-strong reserve could be brought into the labour force in the short term, while another 50,000 had a good chance of finding jobs if they received training. Around 60,000 of the economically inactive could be motivated to work, and 150,000 are in need of more complex assistance and training, the minister said.