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KSH: Unemployment Rate In Hungary Sinks To 7.4% Year-On-Year

Tamás Székely 2015.02.27.

The number of jobless people dropped by 54 thousand, to 330 thousand, and thus the unemployment rate eased by 1.4 percentage points to 7.4 percent, year-on-year, latest Central Statistical Office (KSH) report shows. The number of people in employment continued to stay above the 4,1 million mark in Hungary.

source: ksh.hu

source: ksh.hu

In November 2014 – January 2015, the number of employed people was 4,127 thousand, 141 thousand more than a year ago, while the employment rage of people aged 15–64 increased to 62.5%. The improvement of the labour market situation of men and women were similar, KSH said.

The employment rate of men aged 15-64 years was up by some 2.7 percentage points year-on-year, to 68.3 percent. The number of women in employment was 1 million 903 thousand, up by 75 thousand year-on-year and up by 188 thousand compared to the level five years ago. The employment rate of those aged 15-24 years edged up by 2.9 percentage points, to 24.6 percent, year-on-year. Accordingly, the number of people with a job was 274 thousand within this age group.

The Economy Ministry said in response to the positive data that the favourable employment trends were having a positive impact on fiscal revenues and lifting household consumption and these in turn fuel economic growth. Recent macro-economic data point to further gains in employment.

via ksh.hu and kormany.hu photo: origo.hu