The number of people in employment has been above the 4 million mark for the sixteenth consecutive month, the Hungarian Central Statistical Office reported earlier today. In the period March-May 2015, the number of those aged 15-74 years increased by 102 thousand, to 4 million 165 thousand year-on-year. The unemployment rate has reached the best level in eight years, 7.1 percent.

The employment rate of those aged 15-64 years edged up to 63.2 percent, and the employment indicators of both men and women have improved. The number of men aged 15-64 years in employment was 2 million 234 thousand, while the respective employment rate grew by 2.2 percentage points, to 69.3 percent.

Employment indicators for women have reached a record high level, well above last year’s very high base. The number of women in employment was 1 million 915 thousand, up by 53 thousand year-on-year and the respective employment rate exceeded 57 percent for the first time ever, with 57.3 percent. The growth rate for the employment of women was double the EU average.

The number of people in employment aged 15-24 years was 270 thousand, while the respective employment rate increased by 1.7 percentage points, to 24.5 percent.

In the observed period, the number of jobless in Hungary was down by 37 thousand compared to the same period of the previous year. This means that the number of unemployed fell to 320 thousand and the unemployment rate improved by 1 percentage point to 7.1 percent, well below the EU average.

Lower taxes on labour, the Job Protection Action Plan, the Government’s active employment policy and the economic trend reversal of 2013 have all played a role in reaching an outstanding employment growth figure. The bulk of improvement is attributable to private sector hiring and that reflects the positive performance of the Hungarian economy.

For detail data please visit www.ksh.hu.

(Ministry for National Economy)