The rise of industrial production and the service sector will accelerate the growth of Hungary’s GDP to 2.5–2.7% in 2016. The unemployment rate is already low, at 6.7%, and is expected to decrease to 6.5%. However, there is great variation between the different parts of the country: the unemployment rate is close to zero in the west, while the eastern part suffers from high unemployment. The growth is focused on the car industry, services and the creation of new businesses.
According to Anna Zétényi, Country Manager of Monster.hu, the distinctive feature of the current employment climate in Hungary is the fact that estimated half a million Hungarians have moved to neighbouring countries in the hope of improving their standards of living. This has resulted in a shortage of competent employees, particularly in western Hungary. The shortage of labour force is particularly severe in the IT, car industry and service sectors, Ms Zétényi lists.
She thinks Hungarian companies should renew their recruitment methods, because the ageing labour force needs to be replaced with young talent. Young job-seekers are more demanding, and recruiting them requires more interaction and the use of new channels, such as social media and social media campaigns. The company’s reputation as an employer is also becoming more important as a means to attract young employees.
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