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Recent Economic Situation The impact of the economic shock-therapy of 1996 on the Hungarian labour market was essentially positive. The expanding private sphere created several new opportunities. The majority of investments was greenfield but the earlier established companies mostly of multinational background have also increased their production. In 1999 the German Audi became the biggest firm in Hungary according to turnover, overtaking the former first ranked national oil company. Parallel to the GDP increase of over 4 % the labour market has picked up as well as the demand for young graduate labour force. Not only do organisations that need skilled working force establish assembly plants in Hungary but also Research and Development activities. For instance, all the three greatest mobile telephone manufacturers, namely Nokia, Ericsson and Motorola planted research centers in Hungary. The number of employed has grown with 100.000 so now it exceeds 4 million. (The total population of the country is about 10 million.) The survey carried out according to the rules of the International Labour Organisation (ILO) indicates a continually decreasing unemployment rate, which is now less than 7 %. The economy of the country in geographic terms is not in the least uniform: prosperity and unemployment of 2-3 % is characteristic of Budapest and western regions, while the counties near the Ukrainian border � in spite of the role-taking of the government � have been struggling with structural problems: comparatively few investors, not too developed infrastructure and despite the highly skilled labour force unemployment is still high. Employers In Hungary � regarding employers � organisations of Western-European background count as the best employers: the capital of $21 billion that has streamed into the country so far generally created better-paid workplaces than domestic companies. On the basis of latest trends it can be inferred that the most primitive , i.e. the least value-adder factories have already moved out to less expensive Eastern-European countries such as Rumania and Ukraine.The recent leading branches are road/transport machinery, electronics and IT. According to the above described, the majority of opportunities fascinating young graduates emerge at multinational background organisations, thus the selection of applications greatly resembles the international standard. Jobsearch Universities organise annual career fairs where future employers usually successfully meet graduates. The greatest event of such kind is the Career Forum of the University of Economy of Budapest where nearly 4.000 students familiarise themselves with the supply of 100-110 employers. The experience of the fall period lets you conclude that the success fields of past years , e.g. law and economics are starting to fade or at least are put to the background by the new comet, IT. Of course, it is not only job fairs that offer good opportunities: job adverts for young graduates are regularly published by the press. The leading publisher in this respect is an economical magazine titled �Heti Vil�ggazdas�g�. Among newspapers the list is headed by �N�pszabads�g� while among the highly dynamic Internet websites Start-On-Line seems to defeat its competitors. Selection is carried out by personnel consulting companies in most advertised workplaces The quality of the multiple interview series conforms to the rules of the international standard. All the more so, since most of the Hungarian headhunting companies are affiliations.You can, of course, send your CV to the desired company or personnel consulting without an actual advertisement, trusting the constant attention of HR assistants or databasis. The free trainee system which is well-applied abroad has not become rooted in Hungary. Requirements For the jobs advertised, beyond degree, the essentials are fluent English, user level PC skills, creativity and the ability to work individually. Many employers appreciate membership in student societies and foreign work experience, which they consider a justification of stamina. In the past few years the number of graduates has doubled. As a consequence of the increased demand HR experts responsible for selection must resort to most cunning methods: the Assessment Centre has been generally accepted, different psychological methodologies has become popular and in some cases graphology, etc. The Hungarian human resources management has developed considerably over the past few years. There
is a Hungarian equivalent of Success and Career called �Start�.
www.weathervane.hu/start
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