Proportion of Hungarian youth neither working nor employed falls

The proportion of young Hungarians aged 20-24 neither in employment nor in education or training has fallen about one-sixth in the past ten years, even as the ratio increased for the European Union as a whole, state secretary Bence Rétvári told MTI, citing data compiled by Eurostat on the occasion of International Youth Day.

The ratio in Hungary fell from close to 23 percent in 2013 to 15.4 percent in 2016, Rétvári said. Fewer than half of the EU-28 reduced the proportion of young people neither learning nor employed during the period, he added.

The government’s youth-friendly, future-oriented and predictable policy helps youth realise their potential, become active members of society and start families, he said. About two-thirds of Hungarian youth see their future only in Hungary, which is why “we’re striving to create the most favourable conditions for starting a family”, he added.

More than 50,000 families have taken advantage of some 136 billion forints (EUR 445m) in home purchase subsidies since the government expanded the funding available for the purpose in 2015, he noted.

The human resources ministry has launched a 3.3 billion forint (EUR 10.71m) scheme to support extra curriculum foreign-language classes in Hungarian secondary schools, a ministry official said on July.

Interesting survey by K&H Bank: more than a third of young Hungarians aged between 19 and 29 years have some form of savings, with most young people setting money aside to buy their first home.

Photo: MTI

Source: MTI