The latest flash report by the Hungarian Central Statistical Office shows that favourable labour market trends continued in July-September 2016. The number of people in employment aged 15-74 years rose by 126 thousand, to 4 million 391 thousand, a new record high figure. The largest improvement was registered within the private sector, with 128 thousand new jobs. The unemployment rate was 4.9 percent in the observed period, the lowest level since the regime change.

The employment rate of those aged 15-64 years gained 2.3 percentage points, reaching 67.1 percent. As far as the gender aspect is concerned, indicators for both men and women have improved: the employment rate for men aged 15-64 years was up by 2.3 percentage points, to 73.6 percent, while that of women in the same age bracket rose by 2.4 percentage points, to 60.8 percent.

The unemployment rate among those aged 15-74 years has declined in every region. Youth employment indicators have also been improving, the number of people aged 15-24 years with a job rose by 18 thousand year-on-year, to 311 thousand. The number of jobless young people, on the other hand, fell in the same period by 13 thousand, to 45 thousand, and thus the youth unemployment rate has dipped below 13 percent.  Thanks to positive economic processes in the private sector, lower taxes on labour, the Job Protection Action and economic activity stimulus measures, employment data have been improving in Hungary.

(Ministry for National Economy)