Manpower: 25 percent of Hungarian companies plan to increase staff in the last quarter of the year

The labor service provider ManpowerGroup surveyed more than 40,000 employers in 42 countries around the world, including 525 employers in Hungary.

The seasonally adjusted net employment indicator, calculated from the difference between the number of companies forecasting an increase or decrease in staff, reached an average value of +8 percent, which is 4 percentage points higher than the previous quarter’s value. This data broke the gradually decreasing trend of three quarters, and all this indicates the renewed optimism of domestic companies, they wrote.

The statement quoted Péter Varga, Managing Director of Manpower Hungary, who said that based on expectations for the last quarter, the Hungarian labor market is past the bottom, and domestic businesses are already expecting further employment recovery.

He indicated, however, that this recovery will be stronger if the economy is once again on a clear growth path. At present, the positive shift is mainly due to certain sectors. He mentioned the automotive industry as an example, which can plan under more secure market conditions again following the US-EU tariff agreement, while the sector’s large investors are adding new capacities to production. The other sector that is expected to see a strong recovery by the end of the year is finance and real estate, whose prospects may also be positively influenced by the now-launched preferential housing loan program.

It was highlighted that the largest increase in staff numbers among the sectors is expected in logistics and the automotive industry, as well as finance and real estate. Employers also expect above-average growth among companies in the communication services and raw materials and manufacturing industries. However, a trend of staff reductions is emerging in the energy and utilities sector.

They pointed out that the proportion of those planning to increase staff is highest among medium-sized companies employing 50-249 people and 250-999 people, while companies with a workforce of over 5,000 people indicate a slight intention to reduce staff.

The representative survey also revealed that, according to domestic companies, flexible work schedules are the factors that have the greatest impact on workforce retention, followed by appropriate recognition of employees and creating a balance between work and private life.