Analyst: Actual unemployment rate 11%

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While Hungaryʼs unemployment rate is officially 6.4%, the figure should actually be closer to 11% because the government counts as employed 226,600 public workers who are paid low wages by the state as well as 114,200 people who are registered as working abroad, Analyst Mariann Trippon of CIB Bank said, according to a report from Reuters yesterday.

Data for this chart comes from the Hungarian Central Statistical Office.

Meanwhile, there are reports of a shortage of skilled workers for many of the positions in the country. Human resources professionals have told the Budapest Business Journal about the shortage of people in many areas, including engineers and IT professionals.

Yesterdayʼs report by Reuters said that because roughly half a million out of Hungaryʼs population of 10 million left Hungary in recent years, companies in Hungary are feeling the strains caused by the lack of qualified employees, and investment could be negatively impacted by the shortage.

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