Hungary Unit Labour Costs - Forecast

Labour Costs in Hungary is expected to be 124.64 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Hungary to stand at 124.24 in 12 months time. In the long-term, the Hungary Unit Labour Costs is projected to trend around 124.23 Index Points in 2020, according to our econometric models.


Hungary Unit Labour Costs
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Hungary Labour Last Q3/18 Q4/18 Q1/19 Q2/19 2020
Unemployment Rate 3.7 4 4.2 4.3 4.4 5
Employed Persons 4457023 4469615 4462605 4464815 4466253 4465434
Unemployed Persons 170627 165885 163172 163624 163060 163048
Long Term Unemployment Rate 1.6 1.59 1.61 1.61 1.62 1.63
Youth Unemployment Rate 9.4 8.98 8.84 8.75 8.71 8.66
Labour Costs 130 125 124 124 124 124
Job Vacancies 79428 90443 90265 95255 98360 121401
Wages 327486 339000 367000 342000 324407 375000
Wage Growth 10.9 10.6 10.3 8.8 8.5 6
Minimum Wages 445 445 445 500 459 550
Population 9.78 9.78 9.78 9.75 9.75 9.73
Retirement Age Women 63.5 63.5 63.5 64 63 64.5
Retirement Age Men 63.5 63.5 63.5 64 63 64.5
Labor Force Participation Rate 62.23 62.28 62.23 62.24 62.26 62.25
Living Wage Family 239100 239900 239900 239900 241778 239900
Living Wage Individual 164300 165780 166327 166611 166896 168463
Part Time Employment 180 175 176 174 172 168
Productivity 98 105 105 105 105 105
Wages High Skilled 272000 280083 280083 280083 235806 285074
Wages Low Skilled 137900 140900 140900 140900 119072 141750
Employment Change 0.7 0.63 0.55 0.57 0.57 0.6
Employment Rate 59.94 61.28 60.84 61.04 60.95 60.98
Full Time Employment 4203 4242 4237 4237 4247 4263