Poverty risk rate of young working Hungarians below EU average
In 2017, the proportion of young people aged 18-24 in work but at risk of poverty in the European Union was estimated to be 11%, some 1.1 percentage points below the figure for 2016, with Hungary registering the seventh lowest such risk in the EU, statistics office Eurostat reported in its latest results.
The proportion of young working Hungarians at risk of poverty stood at 6.6% in 2017, well under the rate for the European Union as a whole, the Eurostat data show. The risk rate was 1.5% in the Czech Republic (the best figure in the EU), 11.4% in Poland, and 3.8% in Slovakia. The rate in Hungaryʼs western neighbor Austria was 8.4%.
The highest proportion of working young people between 18-24 at risk of poverty in 2017 was recorded in Romania (28.2%), Luxembourg (20.0%), and Denmark (19.1%). Apart from the aforementioned low rates in the Czech Republic and Slovakia, Finland also managed to register an under-5% risk rate, at 4.2%.
Individuals are identified as being at risk of poverty if their disposable income, adjusted for the number of people in their household, is less than 60% of the adjusted national median disposable income after social transfers have been taken into account, Eurostat said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.