Are you sure?

MTA Institute of Economics to set up labor market forecasting system with EU funding

The Institute of Economics of the Hungarian Academy of Sciences will establish an analysis system permitting reliable forecasts of labor market changes as part of a project to be implemented with European Union funding of close to HUF 958m, the institute told MTI.

The institute will establish a model permitting reliable forecasts and a data bank, due to be completed by 2013. The project is aimed to provide labor market operators - including job-seekers, employers and experts shaping employment and education policy - with more extensive and more accurate information on the demand and supply side of the labor market.

The first product, on the long-term forecast of labor market demand in ten sectors of the economy, is expected to be published in September.

The project will also set up an internet-based information system accessible to job-seekers and employers as well.

The institute hopes that the project will help reveal the causes behind Hungary's relatively low unemployment and high inactivity rates.