ADVERTISEMENT

Czomba: More fostered workers in 2015

Tourism

The government plans to offer fostered worker employment to another 50,000 people from July 1, Sándor Czomba, state secretary responsible for labor market and vocational training, said yesterday, according to a report from Hungarian news agency MTI.

The average gross earnings of fostered workers in August was reported to be HUF 78,000 a month, which is less than minimum wage. The government includes fostered workers as "employed" when counting the unemployment rate, which was reported to be at 7.4% between July and September.

Figures from the Central Statistics Office show that there were 195,100 people employed as fostered workers in August, 48,100 more than a year earlier. The average number was 180,800 in the first eight months, up from 111,000 in the same period of 2013.

Commenting on the latest statistics, Czomba noted that the bulk of new jobs were created in the private sector.

The state secretary also said that the government’s goal is for full employment, which means jobs for all who are willing and able to work. Taking into consideration the movements of the labor market, this corresponds to a jobless rate of approximately 3%.

The government will spend 60% of all European Union funding on fostering economic growth in the new budget period. In other words, HUF 1 trillion-HUF 1.2 trillion will go towards creating jobs, according to MTI.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.