The number of people in employment has been nearing 4 million 300 thousand in Hungary, according to the latest job report of the Hungarian Central Statistical Office (KSH). In the period February-April 2016, the number of people aged 15-74 years in employment rose by 153 thousand year-on-year, to 4 million 294 thousand. This has been the highest figure in 26 years, and it is up by 585 thousand since 2010, when the term of the new government began.

The employment rate of those aged 15-64 years gained 2.8 percentage points, to 65.6 percent. As far as the gender aspect of employment is concerned, indicators show improvement for both men and women. The employment rate of men aged 15-64 years grew by 3.5 percentage points, to 72.2 percent, compared to the same period of the previous year. The rate of women in this age group exceeded the 59 percent mark for the first time ever. Compared to the corresponding period of the previous year, this indicator gained 2.1 percentage points, one of the largest increases within the EU, and two-and-a-half times more than the EU average.

The employment rate of those aged 15-24 years edged up by 2.9 percentage points, to 27 percent, and thus number of people with a job rose to 290 thousand in this category.

The unemployment rate continued to fall: shedding 1.7 percentage points it dropped to 5.8 percent. The respective number of jobless people decreased by 73 thousand and it fell to 265 thousand.

Incoming data show that job growth is accelerating, thanks mainly to private sector hiring. Hungarian reforms, such as lower taxes on labour and the Job Protection Action, and the positive growth trend reversal in 2013 have both contributed to favourable labour market data.

(Ministry for National Economy)