The upswing in the number of employed which has been a trend for almost two years remained intact in the period of March-May 2012 as well compared to the same period of the previous year – the latest release of the Hungarian Central Statistical Office (KSH) concludes. The number of employed among the population aged 15-74 years during the past one year has increased by an unprecedented degree, by 63 000, from 3 million 786 thousand one year ago to 3 million 849 thousand. The rate of employment consequently increased to 50.2 percent. The number of employed among the population aged 15-64 years was up by 58 000, from 3 million 753 thousand one year ago to 3 million 811 thousand and the rate of employment thereby increased to 56.7 percent.

According to the latest labour market statistics of the KSH, in the March-May 2012 period the number of employed increased for the 22nd time in a row on an annualized basis. In the age bracket of 15-74 years in the past one year the number of employed increased at an unprecedented pace of 1.7 percent (year/year), and therefore the rate of employment in this age group increased from 49.3 percent in the corresponding period of the previous year to 50.2 percent. The age group of 15-64 years also registered a dynamic employment growth of 1.5 percent year-on-year.

As far as the gender aspect of employment change is concerned, one can see that the rate of employment of men aged 15-64 years was up by 1.4 percentage points to 61.9 percent compared to the same period of the previous year, whereas the rate for women increased by 1.2 percentage points (51.7 percent). Among men aged 15-64 years 2 million 43 thousand were employed which is 25 000 more than in the corresponding period of 2011, while the number of employed among women increased to 1 million 768 thousand. With regard to age groups, the rate of employment for those in the most optimal working age (25-54 years) was up by 1.4 percentage points and for those aged 55-64 years it was up by 1.3 percent.

The budget of next year will also ensure in 2013 that the Hungarian economy could maintain those positive labour market trends which despite the negative impacts of unfavourable external market conditions have managed to prevail since the change of government.

(Ministry for National Economy)