According to the latest report by the Hungarian Central Statistical Office (KSH), the upward employment trend has been unbroken. In June-August 2014, the number of people in employment was 4 million 158 thousand, up by 177 thousand year-on-year. On the other hand, the number of jobless people dropped by 341 thousand, which constitutes an unemployment rate of 7.6 percent – the best figure since 2008.

As far as the gender aspect of employment is concerned, indicators have markedly improved for both men and women. The employment rate of men aged 15-64 years edged up by 3.5 percentage points, to 68.8 percent. The number of women in employment, within this age group, is 1 million 890 thousand which means that the respective employment rate exceeds 56 percent for the first time. The 3.3 percent – or 87 thousand -- increase registered among women is one of the largest growth figures within the EU. In comparison to the corresponding period of the previous year, the employment rate among those aged 15-24 years was 3.3 percentage points higher (altogether 262 thousand).

The number of jobless people in June-August 2014 was 99 thousand below the year-ago level. Thus, the number of unemployed fell to 341 thousand, while the unemployment rate was down by 2.3 percentage points to 7.6 percent, a figure last seen in April 2008.

Thanks to the employment policy of the Government, which includes elements such as the First Job Guarantee Programme, housing incentives or the tender to create SME jobs, the private sector has been increasingly behind employment growth. Recent excellent macro-economic statistics are signalling further gains on the labour market – in line with Government goals.

(Ministry for National Economy)