EconomySociety

Stats Office: Hungary’s Unemployment Rate Sinks To Historic Low 4,4 Percent

Hungary’s rolling average three-month jobless rate reached 4.4% in October-December, dropping from 4.5% in the previous period and 6.2% in the same period a year earlier, the Central Statistical Office (KSH) said.

source: ksh.hu
source: ksh.hu

The rate covers unemployment among those between the ages of 15 and 74. In absolute terms, there were 205,000 unemployed in Hungary in October-December, 2,500 fewer than in September-November and 75,700 fewer than in the same period a year earlier. The number of employed Hungarians during the period stood at 4,411,000, down 3,400 from the previous month and 151,700 more than one year earlier. The employment rate was unchanged from the previous period at 58.8%.

The number of employed included 217,700 Hungarians in fostered work programmes and 115,700 working abroad. Employees on the domestic primary labour market rose by 4.3% from a year earlier, while the number of fostered workers dropped by 6.3%. Workers abroad fell by 1.2%. In 2016, there were 235,000 unemployed on average in Hungary, some 73,000 less than in 2015. The average unemployment rate for last year was 5.1%, down 1.7 percentage points compared to the year before that.

Economy Minister Mihály Varga said that 702,000 more people have jobs than in 2010. He added that the growth was “primarily seen in the private sector”, while the number of people working in public schemes as well as that of foreign job seekers has gone down. The government is planning to introduce further measures aimed at promoting mobility of the labour force, such as helping businesses with reducing the cost of commuting or accommodation, Varga said.

via hungarymatters.hu and ksh.hu