According to the latest data compiled by the Hungarian Central Statistical Office (KSH), in August-October 2012 the number of employed was 3 million 935 thousand, which is 71 thousand more than one year ago and 160 thousand more since 2010.

The statistics released today only surveys corporations employing at least 5 persons, non-profit institutions and budgetary institutions. These data, do not take into account enterprises employing less than 5 persons although this sector employs more than 1 million people. The primary objective of collecting these data has been to observe the change in gross average wages instead of gauging employment.

In spite of the inauspicious global economic environment employment in Hungary has been rising steadily for more than two years. While according to the latest Eurostat data employment in the euro-zone declined by 0.7 percent over the past year and thus in Q3 2012 it reached a low unseen for six years, in Hungary the number of employed increased by 2.1 percent in the same period.

The Job Protection Action Plan entering into effect in 2013 will certainly further improve domestic employment data which, defying prevalent European trends, have signalled an upward path.

(Ministry for National Economy)