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Hungarian incentives result in 10,600 new hires

A government employment incentive program in Hungary that gives companies discounts on payroll tax if they take on disadvantaged job-seekers has resulted in 10,600 new hires in its first year by the end of June.

Under the program, disadvantaged job-seekers, such as mothers returning to the work force, the long-term unemployed and those with little training, are offered “Start” cards that give companies that hire them discounts of more than 50% on payroll tax on their wages in the first year, followed by a more limited discount in the second year. About 285,000 unemployed Hungarians are eligible for Start cards.

The government has so far spent Ft 1 billion on the program, but a further Ft 15.7 billion is available until the end of 2010, state secretary of the Social and Labor Affairs Ministry Gábor Simon said at a press conference on Tuesday. (MTI – Econews)