ADVERTISEMENT

Labor market sees job growth of above 100,000, NGM says

Tourism

According to data from March-May 2017, the number of private sector jobs increased by 108,000 year-on-year, while the number of people employed under the public work scheme and of people working abroad declined by 22,000 and 8,000, respectively, year-on-year, official government website kormany.hu reported. 

The number of jobless people fell by 48,000, to 203,000, thus the unemployment rate edged down to 4.4% as a result of a 59-month downward trend, kormany.hu added based on data from the Ministry for National Economy (NGM). The Job Protection Action, the Youth Guarantee Program and the Government’s incentives for jobseekers under the age of 25 years have played a major role in these positive trends, according to kormany.hu. The governmentʼs six-year wage agreement and tax reduction package are expected to add more momentum to job growth, partly by activating potential jobseekers and by moderating labor outflow, the website added.

ADVERTISEMENT

Household income improved in Q1 Analysis

Household income improved in Q1

Ministers in new Orbán gov't sworn in Parliament

Ministers in new Orbán gov't sworn in

Spring’s allergy season - the heat is on Interview

Spring’s allergy season - the heat is on

Airport bus fare could rise to HUF 1,500 City

Airport bus fare could rise to HUF 1,500

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.