Are you sure?

Business sector employment rises after three-month decline

The number of employees in Hungary's business sector, which includes private and state-owned companies, rose 2.7% in the twelve months to March, and was also up 0.5% on the month after three months of decline, according to fresh data published by the Central Statistics Office (KSH).

The number of employees at businesses employing at least 5 people rose 48,900 in twelve months to 1,831,800 in March and was up 8,300 from the same month a year earlier.

In a month-on-month comparison, business sector employment rose in March after a 7,400 or 0.4% decline in February and a combined decline of 30,800 in December-February. The number of employees in the sector fell almost 200,000 from a 1,980,000 peak in May 2008 before employment rose first on the month in March 2010. The numbers rose steadily until July 2010, they were little changed until last November, and then declined for the next three months.

Business sector employment started to grow in a year-on-year comparison in May 2010 after declining steadily from December 2008 to 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 economic crisis reduced the number by 6.7%.

The combined number of employees at businesses employing at least 5 people, in the public sector and at non-profit institutions totaled 2,662,500 in March, rising 0.8% or 21,700 from February 2011 and rising 17,900 or 0.7% in one year.

Most of the monthly rise in March came from the public sector where the number of employees rose 12,100 from February to 728,200 in March, but fell 33,300 in one year. Excluding fostered workers ─ those employed on public work schemes ─ the number of public sector employees fell 2,100 in a month and little changed in one year, KSH said.

Non-profit institutions employed 102,500 people in March, 1,300 more than a month earlier and up 2,300 from the same period last year.