Support Program Helping Young Jobseekers to Start in April

Latest data from the Hungarian Central Statistical Office (KSH) show that the number of employed persons increased to 4.723 million in February this year, 32,000 more than a year earlier. 

Evaluating the data in a statement on Wednesday, Sándor Czomba, State Secretary for Employment Policy, said that the results of employment policy are clear: 1 million more people are working than in the pre-2010 era, and on average for more than three times higher wages. He added that

employment and unemployment grew in parallel in February, while the number of registered jobseekers hit a low.

This means that activity is expanding – up by more than 63,000 people in the 15-74 age group in a year – meaning that people who were previously inactive are entering the labor market. This provides an opportunity and a basis for further employment expansion.

He stressed that in 2024, the government will revive economic growth: “The government’s overall competitiveness objective is for Hungary to reach 90 percent of the European Union’s level of development by 2030. This requires an investment-to-GDP ratio of 30 percent and an employment rate of 85 percent.”

Unemployment rate in Hungary (February 2021-February 2024, population aged 15-74). Source: MTI

Sándor Czomba stressed that increasing employment must be achieved by mobilizing domestic labor reserves. To achieve this, the government is providing HUF 460 billion (EUR 1.166 billion) to increase employment under the Economic Development and Innovation Operational Program Plus. Three quarters of these resources will be allocated to programs to help jobseekers and inactive people into employment, such as the Youth Guarantee Plus Program, co-financed by the European Social Fund Plus (ESF+) with nearly HUF 200 billion (EUR 500 million)  of EU funding.

The State Secretary also pointed out that

the program, starting in April, is designed to help young people aged 15-29 who are neither working nor studying to find work, gain work experience and marketable skills.

Participants in the program can receive support for wages, housing, travel and training to help them find a job as soon as possible. Sándor Czomba said that the most important thing is that these young people spend as little time as possible unemployed or not in education, and that they receive personalized help to improve their labor market situation.

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Via MTI, Featured image: Facebook/Audi Hungaria Győr

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