The Institute of Economics of the Hungarian Academy of Sciences will establish an analysis system permitting reliable forecasts of labor market changes as part of a project to be implemented with European Union funding of close to HUF 958m, the institute told MTI.
The institute will establish a model permitting reliable forecasts and a data bank, due to be completed by 2013. The project is aimed to provide labor market operators – including job-seekers, employers and experts shaping employment and education policy – with more extensive and more accurate information on the demand and supply side of the labor market.
The first product, on the long-term forecast of labor market demand in ten sectors of the economy, is expected to be published in September.
The project will also set up an internet-based information system accessible to job-seekers and employers as well.
The institute hopes that the project will help reveal the causes behind Hungary’s relatively low unemployment and high inactivity rates.
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