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Business-sector employment down again

In Hungary

The number of employees in Hungary's business sector, which includes private as well as state-owned companies employing at least five people, was down 0.3% in the twelve months to August 2013, data published by the Central Statistics Office (KSH) on Friday show.

The number has dropped year-on-year every month since December 2011 after increasing steadily between May 2010 and November 2011.

The y.o.y. decline slightly accelerated in the past two months after dropping to 0.1% in June. The pace of the decrease slowed to below 1% in January from an average 1.9% in 2012.

The number of business sector employees was 1,827,600 in August, down 5,800 y.o.y. and down 2,400 from July. January-August employment in the sector was down 0.3% from a year earlier.

Overall employment, covering the above businesses, budget organizations, non-profit institutions and fostered workers was little changed from July and rose 0.7% or 20,100 in the year to August. The rise was exclusively due, however, to a 40,600 increase in the number of fostered workers in the period to 146,900 in August. Their share in the above employment total rose to 5.4%.

89% of all fostered workers were employed by budget organizations in August, with the remaining 11% working with non-profit institutions and businesses – typically majority state-owned companies, according to KSH.

Excluding fostered workers, employment in August was down 0.2% y.o.y.

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