INTERNATIONAL Hungary: EC concerned over job health
The European Commission (EC) believes job creation remains a major challenge for Hungary, with much of the demand due to be met by the public sector, reports online finance journal Portfolio.hu
The European Commission (EC) believes job creation remains a major challenge for Hungary, with much of the demand due to be met by the public sector, reports online finance journal Portfolio.hu.
Hungary’s unemployment rate is likely to reach 11.2% this year.
The Commission says that so far public works have “not contributed to increasing participants’ chances of finding subsequent employment in the private market”.
According to Portfolio.hu, the EC is also worried that a reduction in duration of unemployment benefits will disrupt jobseekers attempts to gain employment, and that a proposed 18% hike in the minimum wage will prevent smaller companies from creating as many new jobs as hoped.