As the latest report of the Hungarian Central Statistical Office (KSH) shows, the number of people in employment has been above the 4 million mark for one-and-a-half years in Hungary. In May-July 2015, the number of those aged 15-74 years in employment grew by 139 thousand, to 4 million 224 thousand year-on-year. Thus, this indicator has reached a 23-year peak and the number of people in employment is more than 500 thousand higher than in 2010, at the change of Government. The unemployment rate declined further, to 6.8 percent, the best figure in 11 years.

The employment rate of those aged 15-64 years improved by 2.6 percentage points year-on-year, to 64.1 percent. Indicators improved for both men and women. The employment rate of men aged 15-64 years was up by 3.1 percentage points, to 70.6 percent. The same indicator for women was 2.1 percentage points higher, reaching a new high of 57.8 percent. Concurrently, the unemployment rate edged down by 1.1 percentage point. Over the past five years, women’s employment rate gained 7.5 percentage points, four times the EU average, while the respective unemployment rate improved by 3.4 percentage points although the EU average is higher than it was five years ago.

The employment rate of those aged 15-24 years was up by 2.5 percentage points, to 25.5 percent, and thus the number of people with a job in this age group totalled 281 thousand.

The number of unemployed people was down by 51 thousand, to 306 thousand; accordingly, the unemployment rate fell by 1.2 percentage points to 6.8 percent year-on-year.

The Government’s active employment policy has been instrumental for steadily improving labour market statistics.  Recent excellent macro-economic data also signal employment growth that in turn will have a favourable impact on the budget and household consumption.

For detailed data visit http://www.ksh.hu/

(Ministry for National Economy)