According to a fourth-quarter survey last year, 57 percent of Hungarian employees saw their job as secure for more than five years, their proportion was the same as a year earlier – BNP Paribas Cardif Biztosító announced the results of its latest representative research prepared jointly with Median to MTI.
István Márk Kiss, the CEO of BNP Paribas Cardif Biztosító, explained in the announcement that, despite the worsening economic trends and gloomy forecasts, the mood of the employees has not worsened since the fall, in fact, it has basically stabilized with a slight increase.
However, the respondents are less optimistic about how easily they would find a new job matching their qualifications in case of losing their job or being terminated. This sub-indicator stood at 61 points, which is a 5-point drop compared to the third quarter of 2022.
The survey also revealed that the household of 48 percent of the respondents could survive a maximum of three months if the main earner lost their job, which is a drop of 5 percentage points compared to the previous quarter. As in the previous quarter, 32 percent of workers would survive a period of between 4 months and a year under these conditions, 16 percent could survive more than a year, 4 percentage points less than in the third quarter of 2022.
As in the previous quarter, 24 percent of respondents claimed that if they lost their job, they would have insurance that would provide them with money.
71 percent of the respondents believed that the company where they work will definitely remain for more than five years. All this is a drop of 3 percentage points year-on-year, but an increase of 4 percentage points compared to the previous quarter.
Based on the survey, the BNP Paribas Cardif Labor Market Stability Index recorded a value of 75 points, which is a 1-point drop compared to the fourth quarter of 2021, but a 2-point increase compared to the third quarter of 2022.
BNP Paribas Cardif Biztosító created the index together with Median in 2014. It can be used to measure how stable the labor market is from the employees’ point of view: how confident the employees are that their current work will provide them with employment opportunities in the long term, and how easily, according to their intuition, they would find a new job opportunity, the announcement states.