According to the latest report of the Hungarian Central Statistical Office (KSH), the number of people in employment has exceeded 4 million for almost two years in the month of December 2015. In the period October-December 2015, the number of people aged 15-74 years in employment rose by 118 thousand year-on-year, to a total of 4 million 259 thousand.

Hungarian reforms are obviously working, as the indicator has thus reached a 25-year peak. The unemployment rate remained unchanged at 6.2 percent, and thus the number of jobless people has been under 300 thousand for the fifth month.

The employment rate of those aged 15-64 years rose by 2.2 percentage points over the past one year, to 64.8 percent. As far as the gender aspect of employment is concerned, indicators improved for both men and women. The employment rate of men aged 15-64 years rose by 2.7 percentage points to 71.4 percent year-on-year. The employment rate of women also increased: the 1.7 percent year-on-year growth in this group resulted in a new employment record of 58.4 percent.

In October-December 2015, the number of unemployed people fell by 38 thousand, to 281 thousand, year-on-year and the respective unemployment rate improved by 1.0 percentage point to 6.2 percent. Hungary has also been effective in combating youth unemployment, as the number of economically active people aged 15-24 years rose by 80 thousand to 292 thousand, over the past five years. Year-on-year, the number of jobless people in this age group fell by 8 thousand, to 53 thousand and, accordingly, the unemployment rate edged lower by 3 percentage points to 15.3 percent.

Labour market indicators are steadily improving in step with Hungary’s economic growth.  Employment has been rising and the unemployment rate continues to be low, in line with the Government’s expectations and the forecasts of the Convergence Programme.

For detailed data please visit www.ksh.hu

(Ministry for National Economy)