“Following a low-point in mid-June, the number of registered job seekers in Hungary fell by almost 25 thousand by the beginning of August, which clearly indicates that a favourable turnaround is occurring on the job market”, the Ministry for Innovation and Technology’s State Secretary for Employment Policy Sándor Bodó stated. “The number of people without employment has been falling for the seventh week running thanks to the measures included in the Economy Protection Action Plan”, he added.

The State Secretary emphasised that the employment figures are also encouraging in view of the fact that an increase of 58 thousand has already been indicated in comparison to the June indices. The number of registered new workplaces has increased severalfold primarily in sectors that were hit first and placed in a difficult position because of the coronavirus pandemic, including the tourism and hospitality industries, and the processing industry.

Mr. Bodó added that thanks to the rapid and targeted government measures the number of job seekers has been tangibly reduced, with the number of people who have found jobs already approaching 20 thousand last week. Building on the results of the period following 2010, the measures included in the Economy Protection Action Plan are helping the Hungarian economy exit the crisis caused by the coronavirus to a major extent. Hungary remains one of the European Union member states with one of the lowest rates of unemployment.

The wage subsidy programs being supervised by the Ministry for Innovation and Technology have enabled the preservation of a total of 260 thousand workplaces. The wage subsidies and other measures included in the Action Plan (e.g. loan opportunities, tax and contribution concessions, training programs, etc.) have helped over 1 million employees to date. The government will continue to work to preserve as many workplaces as possible, and to create at least as many new jobs as are nevertheless lost as a result of the pandemic.

(MTI/Cabinet Office of the Prime Minister)