According to the latest flash report of the Hungarian Central Statistical Office (KSH), the total number of people in employment continued to increase in comparison to the corresponding period of the previous year.

In the period March-May 2013, the number of those in employment aged 15-74 years was up by 62 thousand to 3 million 910 thousand, compared to the same period of the previous year, which corresponds to an increase of 1.6 percent. The employment rate for young people has also increased by almost 1 percent.

As the latest KSH labour market statistics indicate, the employment rate for the 15-74 years age group increased by 1.2 percentage points – to 51.2 percent – compared to the level of one year ago. Within the of 15-64 years age group, the employment rate was up from 56.7 percent in the same period of the previous year to 57.9 percent, which also constitutes an improvement of 1.2 percent.

As far as the gender aspect of employment is concerned, indicators are signalling further improvement for March-May 2013 with respect to both sexes. Among men aged 15-64 years, the number in employment increased by 1.8 percent to 63.7 percent compared to the same period of the previous year, while the respective rate for women was up by 0.7 percentage points (to 52.4 percent). Another favourable trend is that there was improvement in age groups with less auspicious labour market prospects.

The employment rate of young people aged 15-24 years increased by 0.9 percent over the past one year, and thus the number of people in employment grew to 215 thousand within this age bracket. The employment rate for older people, aged 55-64 years, was 1.3 percent higher in comparison to the figure recorded one year ago.

Positive tendencies can also be observed with regard to unemployment. In light of KSH data, the number of unemployed decreased by 25 thousand and the unemployment rate improved by 0.7 percentage points – to 10.5 percent – in comparison to the corresponding period of the previous year. The unemployment rate for those in the most optimal working age group of 25-54 years dropped to 9.6 percent.

These positive labour market processes are proof that the Government’s employment-stimulating programmes, such as the Job Protection Action Plan and the First Job Guarantee Programme, are fruitful and effective.

(Ministry for National Economy)