Which way is the labour market going?

Sándor Baja
managing director
Randstad

Seemingly the situation didn’t change: 1. In Hungary 50,000 more people retire per year than the number of workers entering the labour market. 2. Western Europe is also increasing salaries in the battle for talents. 3. We have reached the average of OECD countries: 70 percent of the healthy adult population are working.
There are some interesting developments too: 1. Last year approximately 60,000-70,000 non-EU workers were granted a work permit in Hungary. 2. According to statistical data from the government, 14 percent of workers aren’t registered or are registered to be earning a minimum wage – we are talking about 600,000 people. 3. Despite being in the middle of the artificial intelligence, robotics and machine learning trends, the efficiency of work didn’t grow in Western Europe.

4. There is a major problem with the distribution of wealth: the richest 25 people in the world have as much money as the poorest 3 billion. Meanwhile, in Hungary a person who is filling the shelves with products in a grocery store earns more than a teacher or a policeman. //