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Hungary avoids mass young worker redundancies during pandemic

During the pandemic, Hungary has evaded laying off large amounts of young workers compared to other European countries.

 

Many countries in Europe are currently facing a tough employment situation. The rise of the pandemic inevitably led to the layoff of workers in general, but most commonly young workers under 25-years-old. Nearly 400,000 young workers lost jobs within the EU this year. The normal youth unemployment rate is 15.3 percent. This year that number rose by 2.7 percent.

Thankfully Hungary was able to evade this unfortunate circumstance and continue to employ young workers in various industries. In October, Hungary was nearing pre-pandemic levels of employment of young workers. Sándor Bodó, State Secretary for Employment Policy of the Ministry of Innovation and Technology, has credited Hungary’s success to the economic protection measures that were implemented.

Within the EU, Hungary has one of the lowest unemployment rates and the number of jobseekers has been steadily declining in the last five months.

Currently, the state provides special aid through the Enterprise Labor Support Program to participating employers. The program which was launched in October, provides a subsidy of HUF 100,000 each month for five months to employers that employ young people.

Bodó noted that the government has received a large amount of applications from employers in a small amount of time affirming the fact that there is a need to employ young people.

Photo credit: haszon.hu