According to the flash report of the Hungarian Central Statistical Office (KSH), positive employment trends are continuing. In the period February-April 2014, the number of those aged 15-74 years in employment increased by 238 thousand, from 3 million 869 thousand one year ago to 4 million 107 thousand. In this period, the number of those in employment was 375 thousand more in comparison to the corresponding period of 2010. Although part of this growth is attributable to the effect of public work programmes and migration, thanks to the Government’s successful employment stimulus schemes, such as the First Job Guarantee Programme, housing subsidy or the programme supporting the creation of SME jobs, the private sector’s share of employment growth is increasing.

As far as the gender aspect of employment is concerned, indicators for both men and women have improved. The employment rate of men aged 15-64 years was up by 4.9 percentage points to 67.5 percent in comparison to the corresponding period of the previous year. The employment rate of women aged 15-64 years exceeded 55 percent for the second consecutive month. In February-April 2014, this indicator for women was 55.5 percent, the highest figure ever. Thus, the gap between the EU and Hungarian averages has been narrowing, from 8.5 percent five years ago to 3-3.5 percent.

In Hungary, the number of people without a job was down year-on-year by 116 thousand in the period February-April 2014. The unemployment rate has thus declined further: the unemployment rate of those aged 15-74 years improved to 8.1 percent in the observed period. This is the best Q1 data since 2008 when this indicator was at 8 percent.

Lower taxes on labour, the Job Protection Action Plan, measures to stimulate economic activity and the positive trend reversal of 2013 have all contributed to the record-high growth in employment. Microeconomic data are also confirming Hungary’s economic upturn.

For detailed data see www.ksh.hu.