Labour market outlook
How is the Hungarian labour market evolving in light of European developments? In this article, we look at data from popular EU destinations to put the domestic data into context.
There was a recently published article on HR Portal, on unemployment rates in EU countries. We now look at data from popular EU destinations to put the domestic data in context.
There was a slight shift in the domestic labour market data in December 2022. The unemployment rate rose to 3.9%. The rise has been observed since June, with a 0.6% increase, which is not blatant compared to recent years. At the same time, the employment rate has stagnated (hovering around 74.5% for some time), which at first sight seems paradoxical. This apparent contradiction is due to the fact that the age group of 15-64 is the default age group for the employment rate, while the age group of 15-74 is the default age group for the unemployment...