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Hungaryʼs labor shortage continues to grow

Analysis

Among private sector organizations employing at least five people, the number of unfilled job vacancies where employers have taken active steps to find workers had grown to 54,000 in the third quarter, around 29% more than in the same period a year earlier, a summary of data by the Central Statistical Office shows.

The number of unfilled private sector jobs grew from 43,000 at the end of Q1 and 48,000 at the end of Q2. Based on EU calculation methodologies, in the private sector some 2.5% of jobs are vacant on average, but the ratio is 5% for administrative and service support activities where the employee shortage is comparatively the highest, national news agency MTI reported.

In the construction sector, 2.7% of jobs were unfilled; in the catering and accommodation services it was around 2.5% . In absolute terms, the manufacturing sector has the most unfilled jobs, with 20,600 employees needed (but lacking) to cover the shortfall.

KSH notes that, based on the National Employment Officeʼs (NFSZ) different methodology for calculating with the continued inflow of labor requests, there were 134,300 vacant jobs at the beginning of September, and 88,000 places were still unfilled by the end of the month. 

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