Are you sure?

Month-on-month drop in business sector employment repeated in January

The number of employees in Hungary's business sector, which includes private as well as state-owned companies, rose from twelve months earlier, but fell in a month-on-month comparison for the second month in a row, fresh data from the Central Statistical Office (KSH) show.

The number of employees at businesses employing at least 5 people rose 47,400, or 2.7%, to 1,829,000 in January from the same month a year earlier.

Business sector employment started to grow in a year-on-year comparison in May 2010 after declining steadily from December 2008 and April 2010, KSH data show. Employment in the sector averaged 1,827,000 for the full year in 2010, edging up 0.3% from 2009, when the number dropped 6.7% because of the crisis.

In a month-on-month comparison, employment in the business sector fell 7,900, or 0.4%, in January, slowing from a 1% decline in December. Business employment numbers varied at most +/-0.1% between August and November of last year. The number of new hires started to climb in a month-on-month comparison from March 2010, peaking at 1.3% in April and May, then slowing to 0.3% in July. The number fell by 0.1% in August.

Business sector employment rose just three times in a month-on-month comparison between August 2008 and February 2010.

Employment in the public sector fell by 39,500, or 5.4%, to 694,700 in January from the same period a year earlier. In a month-on-month comparison, the number was down 61,200 or more than 8%. The drop reflected a sharp reduction in the number of people employed in public work schemes as the government started to reorganize the programs.

The number of those employed in public work schemes fell by 40,960 from twelve months earlier and by almost 58,000 from December to just 12,300 in January.

Excluding the public work schemes, the number of public sector workers fell 3,200 from December and was up 1,500 in twelve months.

An additional 97,300 people were employed at non-profit institutions in January, 700, or 0.9%, more than in the same period a year earlier, but down 5,800 from December.

The combined number of employees at businesses employing at least 5 people, in the public sector and at non-profit institutions totaled 2,621,000 in January, 9,000, or 0.3%, more than in the same period a year earlier, but 75,000, or 2.8%, fewer than in December.