The number of people in employment has been above the 4 million mark for more than one year and a half – according to the latest jobs report by the Hungarian Central Statistical Office (KSH). The number of people in employment aged 15-74 years was up by 118 thousand, to 4 million 273 thousand in the period September-November 2015.
Commenting on the latest data, Minister of State for Labour Market and Vocational Training Péter Cseresnyés said at a press conference that the number of people in employment has reached the best level in 25 years, while the unemployment rate has hit an 11-year low.
The employment rate of those aged 15-64 years rose by 2.2 percentage points over the past one year to 65 percent. As far as the gender aspect of employment is concerned, indicators are better for both men and women. The employment rate of men aged 15-64 years was up by 2.5 percentage points, 71.4 percent, year-on-year. The indicator for women aged 15-64 years improved by 1.9 percentage points, to 58.7 percent – a new record high in this category.
The Minister of State stressed that the number of people in employment aged 15-24 years increased by 297 thousand, up by 80 thousand, compared to the level five years ago. Year-on-year, youth unemployment fell by 4.3 percentage points to 15.1 percent.
These outstanding data have been partly the result of lower taxes on labour, the Job Protection Action Plan and the positive growth trend reversal of 2013. Thanks to Hungarian reforms, employment is set to continue further and have a positive impact on fiscal revenues and household consumption.
(Ministry for National Economy)
