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The closings and economic stagnation occurred immediately in some sectors in Hungary and gradually in others, writes Tárki’s research. In their study, 18% of respondents reported a significant drop in income due to restrictions.
Loss of income affected different sociodemographic groups and regions to varying degrees. The middle-aged groups (40-59 years) were the most affected by the decrease in income (26% reported it), while their participation was significantly lower among people older than 60 years (9%). They came in part from younger working retirees and older workers near retirement.
Loss of income was reported to a greater extent in Budapest than in the countryside, but to a lesser extent in those with tertiary education than the income effects of the economic recession affected those with secondary and lower education.
With regard to regions, the problem is reportedly greater in the Southern Great Plain and Central Hungary than the national average: in the Southern Great Plain 23%, in Central Hungary 22% of those whose incomes decreased significantly due to the epidemic.
The proportion of those who suffer a loss of income is, of course, higher than that of those who have lost their jobs (because many people have been affected by wage cuts, forced licenses or because their business has survived but their turnover has decreased significantly, etc.).
Overall, 7% of respondents reported losing their job in the past month. Compared with the national average, the layoff rate was higher in the regions of the Great Southern Plain (14%) and Central Transdanubia (10%).
Job losses (similar and in part due to loss of income) are also primarily affected by those with high and low education, and graduates are less affected.
A survey by Ipsos and Publicus showed that between 9 and 10% of people have lost their jobs or closed their businesses since the emergency was declared.
Cover image: Getty Images
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