Commerzbank: Fostered worker program lowers unemployment rate in 2014
Commerzbank predicts that Hungary's unemployment rate will remain at 7% "for the time being," with much of the improvements reported in 2014 attributable to the fostered worker scheme. This type of job creation is reaching its limits, Commerzbank said yesterday.
Hungary's unemployment rate of 7.1% for the October-December period looks very low but Erste noted this was only a superficial estimate. Without fostered workers hired through the government's aid-for-work program, the jobless rate likely be closer to 10-11%, around levels recorded during the crisis.
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