Number of jobseekers continues to fall in November

The state secretary for employment policy said on Monday that the number of jobseekers in Hungary stood at 224,914 in November, 1,200 fewer than in the same month a year earlier, citing data from the National Employment Service (NFSZ).

The November figure was the lowest for the month in more than three decades, Sándor Czomba said. The number was down 1,300 from the previous month, he added.

He said the government aims to boost the employment rate by tapping the 300,000-strong labour market reserve. Around 23,000 job seekers have found work as a result of recently launched European Union-funded government placement programmes.

The Minister of State for Employment Policy added that in addition to further employment growth, the government’s priority is to increase the purchasing power of incomes. The government has fulfilled the first point of the New Economic Policy Action Plan, which consists of 21 measures. As a result, the minimum wage will rise by 40 percent by 2027, by 9 percent to 290,800 forints in 2025, by 13 percent to 328,600 forints in 2026, and by 14 percent to 374,600 forints in 2027, setting the stage for a fourfold increase compared to 2010. Related article: Three-year minimum wage agreement set to impact everyone’s pay in Hungary

The government will help employers who employ workers on the minimum wage to secure a wage agreement. They will have to pay the increased social contribution tax “on a sliding scale”, i.e. in 2025 they will have to pay the 2024 rate in 2025, in 2026 the 2025 rate and in 2027 the 2026 rate.

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