Data from the National Employment Service (NFSZ) shows that in November 2023, despite the difficult economic situation, there were only 226,129 jobseekers in the registry.
Sándor Czomba, the Secretary of State for Employment Policy at the Ministry of Economic Development, said in a statement on Wednesday that the number of jobseekers has fallen by more than 7,000 compared to November last year, showing the stability and strength of the domestic labor market.
Number of jobseekers in Hungary recorded in the register of the National Employment Service, in thousands. (November 2020-2023) Graph: MTI
With one million more people working than in 2010, the rise in employment has been accompanied by a historic increase in the activity rate in Hungary. Meanwhile, the unemployment rate remains one of the lowest in the European Union, reads the statement.
The number of registered jobseekers in Hungary has already fallen by around 400,000 since 2010, and has been below 230,000 for more than half a year.
The government aims to assist the unemployed as soon as possible, through training, retraining, and measures to increase labor market participation. A substantial increase in the minimum wage in December could further boost activity beyond the increase in real earnings, which would also contribute to a large increase in the number of people in employment.
Via MTI, Featured image: Pixabay