GFM: employment increased by another 26,000 people

By: Trademagazin Date: 2023. 03. 24. 09:32

According to the Central Statistical Office (KSH), in February 2023, 4,691,000 people worked, i.e. 26,000 more than a year earlier. All this means that employment is still at a level close to 4.7 million – stated the Ministry of Economic Development (GFM) in its statement on Friday, commenting on the latest data.

According to KSH data, the number of unemployed people reached 195.8 thousand, i.e. the unemployment rate was 4 percent. This is still extremely favorable, the unemployment rate in the EU is one and a half times higher than this. The combined increase in employment and unemployment means an increase in the activity of the labor force, i.e. more and more people are appearing on the labor market who were previously not visible in the registers, they added.

The GFM emphasizes that the government’s goal is to protect full employment even in an economic situation affected by war and sanctions, to prevent recession and to reduce inflation to single digits by the end of the year. To this end, the government has already adopted 20 measures. Programs such as the Széchenyi Card Program, the Factory Rescue Program, support for energy-intensive businesses, or the Gábor Baross Loan Program, whose 700 billion HUF limit was increased by the government to 1,000 billion HUF, help the economy and businesses, given that businesses are less than a the original frame was exhausted within a month.