In the period of June-August 2012 the rate of employment increased to 51.1 percent which is a multi-year record and above pre-crisis levels – the Hungarian Central Statistical Office (KSH) has reported in its latest release.

The 25-month upward trend in payroll figures continued compared to the same period of the previous year. The increase of the number of employed aged 15-74 years was the highest in a year, as the number of employed was up by 77 thousand from 3 million 836 thousand one year ago to 3 million 914 thousand. Regarding those aged 15-64 years the number of employed increased from 3 million 804 thousand one year ago to 3 million 878 thousand – up by almost 74 thousand – and thus the rate of employment of this age bracket has been boosted to 57.8 percent.

According to the latest labour market statistics of the KSH, by an annualized comparison the number of employed increased for the 25th time in the June-August 2012 period. In the age bracket of 15-74 years the number of employed was higher by 2.02 percent (year/year), the greatest increase in a year, consequently the employment rate of this age group increased from 50 percent in the corresponding period of the previous year to 51.1 percent or 1.1 percentage points. On an annual basis in the age group of 15-64 years a dynamic payroll increase of 1.95 percent was also recorded.

As far as the gender aspect of employment is considered, indicators have improved for both sexes. The employment rate of men aged 15-64 years was higher by 1.58 percentage points to 63.2 percent compared to the same period of the previous year, while the relevant rate for women was up by 1.83 percent (to 52.6 percent). 2 million 83 thousand were employed of men aged 15-64 years which corresponds to a rise of 26 thousand compared to the same period 2011, whereas the number of women with a job increased significantly to 1 million 797 thousand (by 48.4 thousand). Another favourable development has been the increase in the number and ratio of employment for those in the most optimal working-age category of 25-54 years as well as regarding slightly older people aged 55-64 years.

The Job Protection Action Plan will further facilitate the ongoing positive trend regarding the rate of employment especially in those categories where help is required most (career starters, job seekers above the age of 55, women, mothers with small children). Thereby the Hungarian economy can maintain those favourable labour market trends which have been in place ever since the change of government despite the negative impacts of an inauspicious foreign market environment.

(Ministry for National Economy)