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Anonymous
Hungary: Labour Shortage -> Wage Explosions 2016-08-10 15:08:53 Post No. 65962
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Hungary: Labour Shortage -> Wage Explosions 2016-08-10 15:08:53 Post No. 65962
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http://www.bloomberg.com/news/articles/2016-08-04/hungary-s-labor-woes-may-trigger-wage-explosion-minister-says
Wages are rising quickly in Hungary due to "dire" (as Bloomberg describe it) labour shortages.
Average monthly salaries after taxes rose 8.4 percent in January-May compared with last year to 180,800 forint ($646)
Economics minister Mihaly Varga confirms wage rises are because of a labour shortage:
>“I think in the next one-and-a-half years there will be a radical increase” in wages, which “won’t be because of productivity gains but fundamentally because of labor market demand,” Varga told Figyelo. “We need to come up with a development plan this year, if possible, to react to this changing environment.”
Varga is worried that a lack of mass immigration will lead to a lack of investment:
>"The government needs to take steps to improve the flow of workers to the regions facing the most dire shortages. The dearth of available labor most recently prompted a company in the car industry to invest elsewhere", Varga said, without naming the investor.
Isn't that terrible guys?
Hungary has record low unemployment and rising wages. Isn't that bloody terrible?
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>>65962
further proof mass immigration is terrible for a country
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>>65962
I'm hungarian and I'm going to study Vienna economics in september, so I applied for a job in a McDonalds.
They would pay me 3-4 times as much in full-time job, but even with part-time, I'll make as much as my mother who is a teacher in elementary school.
With full time job I would make about as much as my father who is a police chief.
Everything costs (expect from housing, some luxury stuff) almost the same.
So people just work abroad, if they had normal wages they would stay here.
Free market will solve it might be not a total meme
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>>65971
Hungary built a wall though
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>>65977
You are saying that typically low wage jobs are getting wages comparable to typically higher paid jobs?
Interesting.
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>flood your country with immigrants for cheap labor
>brand anyone who complains as racist
>profit (literally)
The elite should all have their heads set on pikes.
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Wage explosion --> cost explosion
Cost explosion --> receding economy
But hey, keep patting yourselves on the back without looking at reality. It's cute.
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Well, time to move to Hungary.
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>>68268
>Wage explosion --> cost explosion
immigrant explosion --> crime explosion
immigrant explosion --> literal explosions
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>>68268
Fucking workers ruining our profits
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>>68275
I do wonder what's more expensive for the GDP.
Explosions or recessions?
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>>68276
Industrialists have to compete among themselves too. And the ones with cheap workers have an advantage, obviously. This is the inescapable law of Capitalism.
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>>68277
>recessions?
you meant housing bubbles bursting causing house prices to drop allowing young adults to actually think about buying a house instead of living at home till their 40's?
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>>68281
>housing
I did mean recession, I was talking about labour and production. That's what the thread is about. Are you lost?
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>>68268
>patting yourselves on the back
What?
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>>65962
Wowed
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>>66003
Nope, what he is saying is that low-wage jobs in Vienna - where he is studying - pay more than high-wage jobs in Hungary.
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Can't wait to pay 500 HUF for a box of milk soon!
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>>69072
Fuck yes, I'll get out of this shitty country and probably just live on salad boxes.
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>>65977
Why don't Hungarians move to Austria ? There a shitload of somalis, turks, gypsies; but no hungarians.
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>>69079
Because germany is a thing.
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