A key part of this success is the government's implementation of labor market activation programs.Continue reading
The Hungarian labor market has continued to strengthen, showing excellent results also at European level, the Ministry for National Economy announced in an analysis on Wednesday.
The seasonally adjusted employment rate of the population aged 20-64 has been rising steadily since 2010, placing Hungary in sixth place for both men and women. In the last quarter of 2024, the employment rate for men rose to 84.8 percent and for women to 77.1 percent, significantly above the EU average for both sexes.
In Hungary – in line with the European trend – the potential labor reserve decreased in the last quarter of 2024, compared to the previous quarter.
The employment rate remained high at 81 percent, while the average for the 27 EU Member States was only 75.9 percent in the same period.
The effectiveness of employment policy measures is demonstrated by the fact that there are now around one million more people in work in Hungary compared to 2010, bringing the total number of those employed to 4.7 million, while the number of registered jobseekers has fallen to a historic low.
The ministry pointed out that
the unemployment rate in Hungary remains one of the lowest in Europe at 4.4%, while the EU average for the same period was 5.7%.
The economic activity of the working-age population (15-64 years old) continues to exceed the European average, decreasing by 0.2 percentage points for men and improving by 0.3 percentage points for women compared to a year earlier. The activity rate for men, at 82.2 percent, is the eighth highest in Europe, while the activity rate for women, at 74.8 percent, is the 10th highest in Europe, the Ministry for Economy wrote.
Via MTI, Featured image: Pixabay