According to the flash report of the Hungarian Central Statistical Office (KSH) published this morning, in April-June 2014 the number of those in employment was 4 million 122 thousand, up by 190 thousand year-on-year.

As a result, the employment rate increased to 61.7 percent following a gain of 3.4 percent in comparison to the corresponding period of the previous year and the best figure since 1992. Thanks to the Government’s active employment policy, the private sector has been contributing more and more to these excellent data.

Within the age group of 15-64 years, in the second quarter employment was up by 3.4 percent year-on-year. Indicators improved for both women and men. The employment rate of men aged 15-64 years increased by 3.3 percent year-on-year to 67.8 percent. In the same age group, the employment rate of women was 55.7 percent, up also by 3.3percent year-on-year in Q1 and Q2 2014, which increase is one of the highest within the EU. With this employment figure women improved their ranking among EU member states. The largest employment increase was recorded among women in their 30s and 50s.

In April-June 2014, the number of jobless people was down by 91thousand year-on-year. Consequently, the number of unemployed people fell by 359 thousand and the unemployment rate dropped by 2.3 percent to 8 percent. These data have been unprecedented since Q4 2008.

The significant increase in the number of people in employment has been mainly the result of lower taxes on labour, the Job Protection Action Plan, economic activity-boosting measures and the positive economic U-turn of 2013. Favourable employment data are having a positive effect on fiscal revenues and household spending and they are thus driving economic growth.

For detailed data see www.ksh.hu.

(Ministry for National Economy)