Labour shortage shocking in Hungary

As we already reported, Hungary struggles hard with labour shortage which affects almost every sector of the economy. According to the latest data, there are 80 thousand unfilled workplaces in Hungary. The situation is getting worse in construction and industry, but there are considerable problems in transport, as well – reported the Hungarian Central Statistical Office (HCSO). Furthermore, the situation worsened in the info-communication and the service sector. Meanwhile, the Hungarian economy grows constantly. However, labour shortage makes it difficult to utilise this opportunity.

Labour shortage affects almost every sector

According to portfolio.hu, the number and rate of unfilled workplaces is record high in Hungary. Based on HCSO’s latest data, 79,400 people are needed immediately. This number is 19,500 higher than a year before. In fact, the rate of unemployment is falling while more and more public workers find a job on the market. However, this is

not enough to compensate the ever growing demand.

Based on HCSO’s data, portfolio calculated that there are at least 59-61 thousand unfilled positions in the private sector. Process manufacturing needs the most new associates (24 thousand) while the highest rate of unfilled jobs is in service-helping (4.7%). In fact, labour shortage causes considerable problems in the info-communication and healthcare sector, too (3.6%).

Furthermore, the lack of workforce hinders the growth of construction industry. According to the official data, 4,200 new workers are needed in the sector, but

experts talk about much higher numbers.

GDP still grows

To make matters worse, there are considerable problems in the transport and shipment sectors. In fact, the number of unfilled positions increased from 1,400 to 3,600 in only one year in this sector. In case of the public sector, the number of unfilled jobs decreased a bit. Besides, the Hungarian social and healthcare system struggles hard with the labour shortage. For example, institutions for social care need at least 8,000 new associates immediately. This number is 1,000 higher than it was between January and March.

Portfolio.hu cleared that the Hungarian job market becomes more and more tight. This means that companies find it more and more difficult to fill their open positions. Thus,

labour shortage hinders the growth of construction, service and process manufacturing industry.

Clearly, this is not yet visible in the numbers of GDP. However, it is becoming more and more apparent that the record high number of contracts in the construction industry cannot be satisfied with the current number of workers.

Source: portfolio.hu