In light of the flash report by the Hungarian Central Statistical Office (KSH) released earlier this morning, the positive trend regarding employment – a priority area for the Government – continues unabated. In the period December 2012 - February 2013, according to the latest data, the two-and-a-half-year upward trend is being maintained and the increase in the number of people in employment continued in comparison to the corresponding period of the previous year. Within the observed period, the total number of people in employment was 3 million 817 thousand, which corresponds to an increase of 0.6 percent compared to the same period in 2011-2012. Another favourable sign is that employment indicators improved with regard to both sexes.

The number of people aged 15-74 years in employment increased by 23 thousand, from 3 million 794 thousand one year ago to 3 million 817 thousand; the employment rate was up to 49.9 percent from 49.5 percent in the corresponding period of 2011-2012.
The number of people in employment among those aged 15-64 years was almost 25 thousand higher, increasing from 3 million 761 thousand one year ago to 3 million 786 thousand. The employment rate for this age group improved by 0.7 percent to 56.5 percent.

As far as the gender aspect of employment is concerned, indicators improved with regard to both sexes. The employment rate of men aged 15-64 years increased by 0.9 percent to 61.7 percent, while that of women was up by 0.6 percent (to 51.5 percent) compared to the same period one year ago.

A further favourable trend is that the employment rate for the 15-24 year and 55-64 year age group increased by 1.5 percent and 1.2 percent, respectively, in comparison to the level of one year ago. This improvement is attributable to the positive impact of the Government’s Job Protection Action Plan, which provides significant employer tax incentives for employees under the age of 25 years and above the age of 55 years.

(Ministry for National Economy)