Examining the monthly data, the number of jobseekers dipped below 225,000 in December 2023.Continue reading
From Wednesday, companies can apply for the Workplace Generational Transition Program, offering wage supplements to employers who want to ensure the transfer of work experience between pre-retired employees and young people starting their careers.
Sándor Czomba, Secretary of State for Employment Policy at the Ministry of National Economy, said:
Generational change in the workplace is helped when experienced workers and young people are working together.”
Employers applying for the scheme will allow a 64-year-old employee approaching retirement to work six hours instead of eight in the last year, while receiving a mentoring grant of HUF 150,000 (EUR 396). Companies can receive a wage subsidy of up to HUF 244,500 (EUR 646) to employ registered jobseekers who are just starting their careers.
The initiative is good for job entrants, for those about to retire, and for employers, as it will ensure the transfer of skills needed for employment, ensuring a smooth flow of replacement personnel for businesses.
Mr. Czomba added that there are now almost 12,000 jobseekers in the early years registered and the program will help a few hundred people to find a job, but there will be a number of other schemes in the next period to help people find work, not just for these two age groups.
He underlined that as long as there is Hungarian labor, they will fill the workforce with Hungarians.
The secretary of state emphasized that the labor market is safeguarded by a quota, ensuring that only the number of job openings in Hungary that remain unfilled will be made available to third-country workers. Last year, there were about 80,000 vacancies, while the number of work permits actually issued was less than 40,000, he pointed out.
The Hungarian labor market is currently tight, with high rates of employment and low unemployment, but employment among the over-55s and under-25s is lower than the EU average. The current program is a pilot project with a budget of HUF 2.4 billion (EUR 6.3M).
Via MTI; Featured Image: Pixabay