Accelerating rise in job vacancies in Hungary

Analysis

The number of job vacancies has been rising in Hungary at an accelerating pace in the past five quarters, with the year-on-year rate of increase reaching 33% by the first quarter of 2018, reveal figures from the Central Statistical Office (KSH) released Friday.   

The annual rise was only 13% in Q1 2015, but has been accelerating every quarter since Q1 2017, state news agency MTI noted.

There were just over 79,400 job vacancies overall in Q1 2018, up by more than 6,000 from the previous quarter, and up by almost 20,000 from a year earlier, the data show.

Some 31% of all vacancies were available in the manufacturing sector, 11% in administrative and service support jobs, and 10% in healthcare and social services.

Among the biggest employment branches, labor demand rose to 3.3% of all employed in the manufacturing sector, and jumped to 3.1% in the construction sector, both exceeding the nationwide average ratio of 2.5%.

Labor tensions have risen in healthcare and social services, which, similar to the relatively small segment of IT and communications, posted the second highest vacancy ratios in Q1, at 3.6%.

Labor demand also rose, to 2.7% of the employed, in the finance and insurance sector.

The steepest year-on-year increase in labor demand was registered in the property business (133%) and in administrative and service support (72%), with big rises also seen in professional, scientific and technical activities (52%), and freight and storage (50%). 

The few branches where vacancies have dropped in absolute terms were trade and vehicle repair (-5%), and education (-9%).

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