Employees less confident in job security

Analysis

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About 74% of employed Hungarians believed in Q2 that their job positions are secure at their current employer, which is a 16 point drop compared to the previous quarter, state news wire MTI reports, citing a representative survey by insurer BNP Paribas Cardif and polling company Medián.

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Some 55% said they plan on having their same job position in the next five years, an 18 point drop compared to Q1.

The coronavirus epidemic has dented employeesʼ sense of job security but also raised their motivation for keeping their jobs: some 70% of respondents said they would be willing to commute an extra 30 minutes a day to keep their jobs and 56% said they would be willing to work more for the same pay as before.

Overall Hungarians still have a slightly favorable view of their job security as the aggregated labor market stability index came at 70 points out of a 100. Some 58% of respondents were confident they could find a new job if laid off, compared to 57% saying that a year ago.

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