News in Brief
OECD says Hungary's economic development will remain strong in the coming years
The OECD expects a GDP growth of 3.9 percent this year and 3.3 percent in 2020, compared with a 4.6 percent growth in 2018
Labor market
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News in Brief
The labor market must improve for Hungary to sustain healthy economic growth, says official
Péter Benő Banai, a finance ministry state secretary, said labor market constraints must be removed in order to ensure sustainable annual economic growth of around 4 percent
News in Brief
Study finds a large percentage of Hungarians are over qualified for their jobs
An online survey by profession.hu found that about 44 percent of workers are not employed in the field where they have their highest qualification and a further 44 percent are...
News in Brief
Study finds that 30 percent of employees in Hungary have flexible working hours
In Hungary, 74 percent still work in traditional settings while 30 percent have experienced a shift towards flexible work
Blog
These latest numbers say the “labor force boomerang” is real
Detractors have claimed that Hungarians have been leaving the country in droves under the Orbán Government. The numbers, however, tell a different story.
News in Brief
Hungary aims to become leading research and development hub
Hungary plans to foster the region’s best investment environment by creating the most efficient way to link production through digitization
Prime Minister
PM Orbán: International organizations posing as civic groups ended up “murdering" Hungary's Olympic dream
The campaign to collect signatures for a planned referendum on whether Budapest should host the 2024 summer Olympics ended up “murdering a dream”
News in Brief
The European Commission praises Hungary's 'solid' economic performance
In the 2017 Country Report, the EC said Hungary had made “some progress” in reducing the tax wedge for low-income earners and facilitating the transition of fostered workers to the primary labor market
News in Brief
Hungary's unemployment rate at a record low
Since the change of government in 2010, the number of people in employment has increased by more than 700,000, with the bulk of job growth, 486,000, recorded within the private sector
News in Brief
81 percent of companies in Hungary are suffering from the labor shortage
Companies are unable to find skilled workers and one-fifth are unable to hire enough workers with university and college degrees
News in Brief
Hungary's unemployment rate continues to drop
The unemployment rate among men aged 15–74 was down by 1.6 points to 4.6 percent, while that of women in the same age group fell by 1.7 points to 5.0 percent
News in Brief
PM Orbán: New wage agreement now means it's financially worthwhile to do our jobs
The prime minister said similar attempts to increase wages have been made several times in the past 26 years, but no comprehensive agreement had ever been reached. The Hungarian government has now succeeded in achieving that
News in Brief
Hungary's wages to rise by 40 percent in two years
The government's new wage agreement applies to 1.2 million people, with one minister calling the deal "the greatest achievement of the past decade"