At the close of the second quarter of 2023, Hungary recorded approximately 80,000 job vacancies, marking a 19% decrease compared to the same period the previous year, as reported by the Hungarian Central Statistical Office (KSH).
Contrastingly, the number of unemployed individuals surged to around 202,000 in October of the same year. The latest publication of the Labour Market Trends for Q2 2023 by KSH attributes this fluctuation to educational, occupational, and regional disparities.
This shift suggests that foreign workers possessing sought-after skills in Hungary might have increased chances of securing a Hungarian work visa, even amidst a notable unemployment rate. Sectors grappling with the most significant shortages in Hungary include metalworking, construction, sales and retail, manufacturing and production, and healthcare, according to the 2022 EURES Report on shortages and surpluses.
The Hungarian labor market highlights the following as the most in-demand occupations:
With the exception of citizens from the European Union and the European Economic Area, all others must obtain a visa to work and reside in Hungary. Prospective workers need to secure a job offer beforehand and can apply for one of the four types of work visas, depending on the nature of the job or qualification.
Earlier this year, Hungary’s Parliament approved legislation introducing a new category of guest workers. Non-EEA country workers can now legally stay in Hungary for more than 90 days, provided they meet specific criteria, including possessing valid travel documents, demonstrating financial capability, securing confirmed residence, and complying with security requirements.
However, applicants should be aware that Hungary’s authorities announced a cap on the number of foreign workers accepted, emphasizing the measure’s goal is to support the local workforce rather than curbing the influx of job seekers.
Living costs for a single individual in Hungary, excluding rent, are approximately €646.27 or 247,191.6 Hungarian Forint (Ft) per month, according to Numbeo. Rent costs vary based on location and apartment size, with the monthly rent for a one-bedroom apartment in the city center around €430.23 (Ft 164,559.12) and outside the city center at €337.06 (Ft 128,921.81).
For a family of four, monthly expenses are estimated at €2258.85 (Ft 863,990.3). Rent for a three-bedroom apartment is approximately €730.15 (Ft 279,278.36) in the city center and €564.18 (Ft 215,794.91) outside the city center.
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