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Manpowergroup Employment Outlook Survey Hungary

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Manpowergroup Employment Outlook Survey Hungary ManpowerGroup Employment Outlook Survey Hungary Q1 2021 SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 1 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 The ManpowerGroup Employment Outlook Survey for the first quarter 2021 was conducted by interviewing a representative sample of 511 employers in Hungary. All survey participants were asked, “How do you anticipate total employment at your location to change in the three months to the end of March 2021 as compared to the current quarter?” Interviewing was carried out during the exceptional circumstances of the COVID-19 outbreak. The survey findings for the first quarter of 2021 are likely to reflect the impact of the global health emergency, and may be notably different to previous quarters. Contents Hungary Employment Outlook 1 Organization-Size Comparisons Regional Comparisons Sector Comparisons About the Survey 11 About ManpowerGroup® 12 Hungary Employment Outlook SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 2 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 Hungarian Employment Outlook Net Employment Seasonally Increase Decrease No Change Don’t Know Outlook Adjusted %%%%%% Jan-Mar 2021 8882 203 Oct-Dec 2020 11 9773 23 July-Sep 2020 813736-5 -5 Apr-June 2020 11 3842 84 Jan-Mar 2020 5191 347 Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero Hungarian employers report subdued hiring intentions Once the data is adjusted to allow for seasonal for the January to March period. With 8% of employers variation, the Outlook stands at +3% and is forecasting an increase in payrolls, 8% expecting a unchanged in comparison with the prior quarter. decrease and 82% anticipating no change, the When compared with this time one year ago, hiring resulting Net Employment Outlook is 0%. prospects weaken by 4 percentage points. Throughout this report, we use the term “Net Employment Outlook.” This figure is derived by taking the percentage of employers anticipating total employment to increase and subtracting from this the percentage expecting to see a decrease in employment at their location in the next quarter. The result of this calculation is the Net Employment Outlook. From this point forward, all data discussed in the commentary is seasonally adjusted, unless stated otherwise. ManpowerGroup Employment Outlook Survey 1 SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 1 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 Organization-Size Comparisons Participating employers are categorized into one of four Large employers report an improvement of 4 percentage organization sizes: Micro businesses have less than 10 points in comparison with the prior quarter, but the employees; Small businesses have 10-49 employees; Outlook for Micro firms declines by 3 percentage points. Medium businesses have 50-249 employees; and In the Small-size category, hiring intentions remain relatively Large businesses have 250 or more employees. stable, while Medium employers report no change. Employers in both the Large- and Small-size categories Hiring prospects decline by 9 percentage points for expect to grow payrolls in the upcoming quarter, Medium employers when compared with this time reporting Net Employment Outlooks of +9% and +2%, one year ago, while Outlooks are 6 and 2 percentage respectively. Elsewhere, Medium employers report points weaker for Micro- and Large-size employers, uncertain hiring plans with an Outlook of -1%, while respectively. Meanwhile, hiring intentions remain Micro firms expect to trim payrolls, reporting an relatively stable for Small employers. Outlook of -4%. Net Employment Seasonally Organization-Size Increase Decrease No Change Don’t Know Outlook Adjusted %%%%%% Micro-Size less than 10 2690 2-4-4 Small-Size 10-49 10 7794 32 Medium-Size 50-249 811801-3 -1 Large-Size 250 or more 15 9 76 069 Micro-Size less than 10 Small-Size 10-49 Medium-Size 50-249 Large-Size 250 or more 40 30 20 10 0 -10 -20 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Graph displays Seasonally Adjusted Data 2 ManpowerGroup Employment Outlook Survey SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 2 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 Regional Comparisons Employers in three of the eight regions expect to add Northern Hungary, Southern Great Plain and Western to payrolls during the upcoming quarter. The strongest Transdanubia – while the Central Hungary Outlook labor market is forecast for Central Hungary, where the increases by 2 percentage points. However, hiring Net Employment Outlook of +12% reflects respectable prospects weaken in three regions, most notably by hiring plans. Elsewhere, job gains are also anticipated 14 percentage points in Southern Transdanubia and in Central Transdanubia and Western Transdanubia, by 4 percentage points in Budapest. where Outlooks stand at +5% and +3%, respectively. When compared with this time one year ago, employers However, employers in four regions expect to trim in five of the eight regions report weaker hiring intentions. payrolls, most notably with Outlooks of -6% reported in A considerable decline of 10 percentage points is both Southern Great Plain and Southern Transdanubia. reported for Budapest, while Outlooks are 9 percentage Budapest employers report a muted Outlook of -4% points weaker in Northern Great Plain, Southern Great and the Outlook for Northern Hungary is -2%. In Plain and Southern Transdanubia. Meanwhile, hiring Northern Great Plain, employers forecast a flat labor plans strengthen in two regions, most notably by market with an Outlook of 0%. 5 percentage points in Central Hungary. Hiring sentiment strengthens in four of the eight regions in comparison with the prior quarter. Outlooks are 3 percentage points stronger in three regions – Net Employment Outlook Seasonally Adjusted Outlook -3 Budapest -4 11 Central Hungary 12 4 Central Transdanubia 5 -3 Northern Great Plain 0 -1 Northern Hungary -2 -6 Southern Great Plain -6 -6 Southern Transdanubia -6 3 Western Transdanubia 3 -10 -5 0 510 15 ManpowerGroup Employment Outlook Survey 3 SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 3 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 -3 (-4)% Budapest The weakest labor market in seven years is forecast for the coming quarter, with employers reporting a Net Employment Outlook of -4%. Hiring plans weaken by 4 percentage points in comparison with the prior quarter and decline by 10 percentage points when compared with Quarter 1 2020. Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero +11 (+12)% Central Hungary Job seekers can expect to benefit from the strongest hiring pace in two years during the next three months, according to employers who report a Net Employment Outlook of +12%. Hiring intentions are 2 percentage points stronger quarter-over-quarter and improve by 5 percentage points when compared with this time one year ago. Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero +4 (+5)% Central Transdanubia In the first quarter of 2021, employers continue to anticipate modest payroll gains, reporting a Net Employment Outlook of +5% for the second consecutive quarter. Hiring prospects are also unchanged in comparison with the same period in 2020. Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero 4 ManpowerGroup Employment Outlook Survey SMART JOB NO: 60470 QUARTER 1 2021 CLIENT: MANPOWER SUBJECT: MEOS Q121 – HUNGARY _ENGLISH – TWO COLOUR – A4 SIZE: A4 DOC NAME: 60470_Hungary_English_2Col_A4_Q121 PAGE: 4 ARTWORK SIZE: 297mm x 210mm DATE: 24.11.20 -3 (0)% Northern Great Plain With a Net Employment Outlook of 0%, employers forecast flat hiring activity during the January to March period. The Outlook declines by 2 percentage points in comparison with the prior quarter and is 9 percentage points weaker when compared with the first quarter of 2020. Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero -1 (-2)% Northern Hungary The labor market slump is expected to continue in Quarter 1 2021, with employers reporting a third consecutive negative Net Employment Outlook, standing at -2%. Hiring prospects improve by 3 percentage points quarter-over-quarter, but are 3 percentage points weaker when compared with this time one year ago. Net Employment Outlook Seasonally Adjusted Outlook 40 30 20 10 0 -10 -20 -30 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 No bar indicates Net Employment Outlook of zero -6 (-6)% Southern
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