One in Five Hungarians Consider Changing Jobs

In 2023, Hungarian society is facing an uncertain economic environment with financial difficulties, so the population is typically saving, saving and many are changing jobs in the hope of better earnings. Hungarians are divided on the economic outlook for this year, according to a representative survey by the insurance company Generali Biztosító.

51% of respondents are optimistic about 2023, while 49% are pessimistic. The optimistic outlook is more likely among younger people (18-39 years old) and those with higher incomes.

The general conclusions of the survey for the population as a whole are:

• saving is becoming more widespread among the population;
• many people are considering changing jobs;
• long-term financial planning is becoming more important in the coming period.

36% of the population have made some kind of financial resolution for 2023, of which 42% of respondents want to save more money. These are the most common ways to save:

• 40% are skipping the purchase of unnecessary goods and services;
• a quarter of respondents are trying to cut bills in various ways;
• 15% are cutting back on car use.

The survey also showed that nearly a fifth of the population even plan to change jobs in 2023 in the hope of higher wages. The question is whether there will be enough vacancies, as the number of people in employment is above 4.7 million, while the unemployment rate is below 4%, according to data from the Central Statistical Office in December.

Labor market experts say that there will be enough vacancies as the market remains tight. The only way companies can retain talented employees is to raise wages at least in line with inflation to avoid a fall in real wages, they add.

In the current unpredictable economic climate, the financial awareness of the population is growing, according to research by Generali, which shows that 18% of respondents want to invest their money.