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Overall score

Score by Indicator

6.0
in 2016 6.1
0 2.5 5 7.5 10

Key drivers

Labour market participation

The number of workers available to join the workforce continues to rise. This increases the pool of skilled labour available to Hungarian businesses.

Overall wage pressure

Overall, wages have grown rapidly in Hungary. This puts pressure on firms seeking to take on new workers.

Wage pressure in high-skill industries

The largest contributor to reduced labour market pressures has been the continuing fall in the gap in wages between high- and lower-skilled sectors.

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COUNTRY OVERVIEW

View from the ground

Tammy Nagy-Stellini, Managing Director, Hays Hungary

While eye-catching headlines keep appearing about Hungary’s unemployment rate, companies have already started to feel the effects of the flipside of this phenomena. The scarcity of skilled workers is creating challenges nationwide and organisations are struggling to recruit the talent they need which makes it even more crucial for companies to retain their existing workers., as these regions offer 15-20 per cent less competitive salaries and as a result find it difficult when attempting to attract more capable and mobile workers from other regions.

Tammy Nagy-Stellini, Managing Director, Hays Hungary

Country Profile

The Hays Global Skills Index score for Hungary this year indicates continued pressures in its labour market.

Hungary’s economy this year is expected to grow by 3.7 per cent this year, up from 1.9 per cent in 2016. This healthy economic growth could lead to shortages in skilled labour for employers.

Two indications that show demand for skilled people is outpacing supply in Hungary include rising job vacancies in 2016 and forecasted real wage growth for 2017 at over 8 per cent, which would be the highest rate of growth since 2002.

Part of the challenge for Hungary’s employers is that the country’s working age population is forecast to decline by nearly 5 per cent between 2015 and 2020.

Key skills in demand

  • Quality engineers
  • Automation engineers
  • Java developers
  • Data scientists
  • Native mobile app developers

News and Press Materials

Tammy Nagy-Stellini, Managing Director, Hays Hungary