State Secretary: Hungary’s labor market remains tight

Hungary has the eighth-lowest jobless rate in the European Union while it is among the top ten member states in terms of employment.

State Secretary Sándor Czomba said Hungary’s labor market remains tight.

Speaking on public television on Wednesday, Czomba noted that Hungary had the eighth-lowest jobless rate in the European Union, while it was among the top ten member states in terms of employment.

He acknowledged a four-tenths of a percentage point increase in the unemployment rate in a year-on-year comparison but said the number of registered jobseekers, at 226,000, stood at a 34-year low.

The jobless rate is increasing as more economically inactive Hungarians join the labor market, he added.

Commenting on the impact of the sluggish German economy on Hungary’s automotive industry, Czomba said government officials were in daily contact with local companies to ensure they could get through the period without making layoffs.

He added that electromobility investments in Nyiregyhaza, Debrecen and Szeged would require more labor.