Marcin Piasecki highlighted that Hungary was the first Central European country to experiment with its own independent economic policy and he believes that the model of the Hungarian workfare society...
Labeled the black sheep of Europe a few years ago, with an economy that required IMF emergency bailout, Hungary’s economic success story continues to yield record-breaking numbers. Here’s a brief...
According to statistics released by the Central Statistical Office (KSH), while Hungary’s rolling average jobless rate dropped year-on-year, it stood at 3.6 percent in May-July
The finance minister said income has been increasing thanks, in part to the six-year wage agreement, and the number of people in employment has also been rising in Hungary
Hungary’s GDP growth rate of above 4 percent suggests that wages are likely to grow in the coming period, leading to increased employment and a continued rise in living standards
“[W]e can now say that not only do we have jobs,” Prime Minister Viktor Orbán said, “but it is financially worth our while to do our jobs.”
The latest numbers are out. Unemployment has reached a record low of 3.8 percent. According to 2017 fourth quarter data released last week by the Central Statistical Office, unemployment has been on the decline for 66 consecutive months.
When the Orbán Government entered office in 2010, the prime minister said that Hungary would offer employment over welfare checks. Critics quickly denounced it as inhumane. Seven years on, 741 thousand more Hungarians have jobs. Tens of thousands that suffered from long-term unemployment have rejoined the active labor force, reclaiming their dignity and self-respect, and it has helped many out of poverty.
The results show that real wages have been on the rise for 47 consecutive months. Since November 2015, the number of private sector jobs has increased by 55,000 at enterprises with at least five employees