As of March this year, the employment rate in Hungary experienced a significant rise, with 4,746,000 Hungarians being employed, marking an increase of 38,000 compared to the same period last year, and 23,000 more than in February, as reported by the Hungarian Central Statistical Office. Between January and March, the number of employed individuals was, on average, 29,000 higher than in the initial months of 2023.

Peter Virovácz, an analyst at ING, pointed out a particularly interesting detail: practically the entire growth in employment can be traced back to a large number of previously inactive women re-entering the workforce. This surge is not referring to the 131,000 individuals who took extended time off after childbirth already counted among the employed but to those women who did not have a job until now and were not seeking employment. Virovácz suggests that"economic pressures are likely making it unviable for families that previously relied on a single income to continue doing so, forcing women to seek employment as well."

Despite the increase in employment, Virovácz cautioned that it might be too early to declare a turning point. Although companies are trying to retain their current employees, not all are succeeding. A drop in external demand often leads to the elimination of previously open positions, making job searching more challenging. According to Virovácz, companies' labor market decisions might lag behind improvements in the economy by approximately six months, indicating that significant changes in employment trends could be expected in the latter half of the year.