Hungarians confident in their jobs, survey shows

Analysis

The Labor Market Stability Index of insurer BNP Paribas Cardif and market researcher Medián, a measure of employeesʼ sense of job security, stood at 70 points at the end of Q3 2017, up 9 points compared to the same time last year, state news agency MTI reported.

The Labor Market Stability Index measures on a scale of 0-100 how secure employees feel about their workplace and job prospects. Based on educational qualification, workers with university degrees were the most optimistic, reaching 73 points, MTI reported.

Workplace satisfaction was basically at the same level among high school graduates and skilled workers, at 71 and 70 points, respectively. The figure was much lower among those with only elementary schooling, at 61 points, the research shows.

A breakdown by sectors also shows similar levels of confidence across the economy as the index stood at 67 points for employees in administration, and at 69 points for industrial workers, while employees in the retail sector appeared somewhat more confident, scoring 74 points.

Among 18-29-year-olds, the index stood at 75 points, while among the over-60s the figure was 61 points.

A geographical breakdown shows few differences as people living in the capital, in towns and cities, or in villages, all had scores in the 69-71 points range.

Men were slightly less optimistic than women, with 78% of men and 80% of women saying their jobs would still exist five years from now.

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