Hungary business sector employment edges down 0.6% yr/yr in March

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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 0.6% year-on-year in March 2013, data published by the Central Statistics Office (KSH) on Wednesday show. The number fell yr/yr for the 16th month in a row but the decline has slowed to below 1% since January. The number of business sector employees was 1,796,700 in March, falling 111,600 from a year earlier and down 10,800 from February. January-March employment in the sector was down 0.6% from a year earlier after a 1.8% decline in 2012. Business sector employment started to decline yr/yr in December 2011 after steady increases between May 2010 and November 2011. Hungary fell a steep 6.7% because of the economic crisis in 2009 and rose 0.3% in 2010 and rose 1.3% in 2011.

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