As it happened in many other parts of the world, salaries also fell in Hungary because of the coronavirus epidemic. Interestingly, young people and those living in Budapest are in the worst situation in this regard – based on a recently published poll.
According to Napi, economic problems will remain for longer than the dangers the virus had on people’s health. And that is going to result in falling salaries, the decreasing number of workplaces, and a declining standard of living.
Between January and May of 2020,
the income of 35 pc of Hungarians decreased,
and only 4 pc said that they receive more than before. A further 11 pc does not have a regular salary, based on a poll done by the Pulzus Kutató for Napi.
8 pc said that they lost 50 pc of their income, 7 pc said that this rate is between 30 and 50 pc, while 13 pc complained that they suffered a 10-30 pc reduction, and another 7 pc stated that they lost less than 10 pc.
The Hungarian state only helps those financially whose working time was reduced, while people who were fired receive
an unemployment allowance for only 3 months, which is the lowest in the EU.
According to the Hungarian Academy of Sciences, 120 thousand people lost their jobs so far. Many of them, however, do not register as unemployed because they wait for their workplace to reopen (musicians, actors, chefs, etc.).
The poll of the Pulzus Kutató is representative and, interestingly, they found that
more men suffered a salary reduction than women.
Furthermore, they say that if somebody is older, their job is safer, but salaries grew mostly in the case of young people. Having a university degree does not provide immunity for anybody, but the amount of money lost is lower in their case. Moreover, the lesson from the territorial comparison is that people living in Budapest are in a worse financial situation because of the virus than those living in Debrecen or Pápa.