According to the latest report by the Hungarian Central Statistical Office (KSH), the number of people in employment has been above the 4 million mark for more than 18 months in Hungary. In the period June-August 2015, the number of people aged 15-74 years in employment rose by 134 thousand, to 4 million 251 thousand, compared to the same period of the previous year. It has been the highest figure recorded since the regime change in 1990. Unemployment also continued to improve: the current rate of 6.7 percent is the best result in ten years.

The employment rate of those aged 15-64 years improved by 2.5 percentage points year-on-year, to 64.5 percent. As far as the gender aspect of employment is concerned, indicators improved for both men and women. The employment rate of men aged 15-64 years was up year-on-year by 2.8 percentage points to 71.1 percent. Although women’s employment rate growth in June-August 2015 was below that of men, but it was still outstanding from a European perspective. In comparison to the corresponding period of the previous year, the employment rate of women aged 15-64 years gained 2.2 percentage points and thus reached a record high of 58.2 percent. The largest increases were recorded in the 55+ and 20-24 years age bracket as well as at women with small children, as a result clearly of the Job Protection Action Plan and childcare benefit extra.

The employment rate of those aged 15-24 years rose by 2.4 percentage points to 26 percent, or 285 thousand people.

Concurrently, the number of unemployed people fell by 39 thousand, to 304 thousand, and thus the respective unemployment rate dropped by 1 percentage point to 6.7 percent, year-on-year.

The more than two-year long positive real wage trend, steady retail sales growth and remarkable employment data are contributing to the overall economic expansion in Hungary.

For detailed data please visit: www.ksh.hu

(Ministry for National Economy)