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Employment Down by 0.8% in August-October

MTI-Hungary Today 2020.11.27.

The three-month rolling employment figure in August-October was down 0.8 percent at 4,482,000 from the same period a year earlier, the Central Statistical Office (KSH) said on Friday.

In the 15-64 age group, 4,402,000 were considered employed, an employment rate of 70.2 percent.

In October, the average monthly number of employees was 4,451,000, 31,000 less than in the previous month and 72,000 less than in October last year.

The employment rate of 15-64 year-olds was 69.6 percent, down 0.6 percentage points from September and down 0.9 percentage points from October last year.

Investment Volume Falls by 12% in Q3
Investment Volume Falls by 12% in Q3

Investment volume in Hungary fell by an annual 12.0 percent in the third quarter of 2020, the Central Statistical Office (KSH) said on Thursday. In a quarter-on-quarter comparison, investment volume fell by a seasonally-adjusted 2.1 percent. Investment volume fell in most economic sectors but jumped by 98.4 percent in health care due to pandemic-related spending, […]Continue reading

Meanwhile, Hungary’s three-month rolling average jobless rate was 4.3 percent in August-October, edging down 0.1 of a percentage point from the previous month, the KSH said.

The rate covers unemployment among people between the ages of 15 and 74.

In absolute terms, there were 202,200 unemployed, 6,100 fewer than in the previous month, but up 36,600 from a year earlier.

Gov’t: jobless rate in Hungary better than EU average

Fully 296,500 job-seekers were registered in November 2020, up 50,000 year on year, but even amidst the pandemic this number has declined for the fifth month in a row, the Ministry of Innovation and Technology (ITM) said in a statement, adding that the government’s measures to protect the economy had helped to maintain stability on the labour market.

Job losses have been most keenly felt in the transport, storage, manufacturing, hospitality and public administration sectors, while the IT, professional, scientific, technical, construction and trade sectors have seen jobs growth, the statement said.

Handling the Pandemic's Economic Impact - Hungary at First 'Site' Conference
Handling the Pandemic's Economic Impact - Hungary at First 'Site' Conference

Business leaders and state secretary László György discussed how they dealt with the economic effects of the pandemic on the second day of the international “Hungary at First ‘Site‘” press conference organized by the Friends of Hungary Foundation, Hungary Today’s publisher, held online this year due to the pandemic. Pharmaceutical Resilience According to CEO Gábor […]Continue reading

Whereas the seasonally adjusted jobless rate for the 27 member states of the European Union grew to 7.5 percent in September, in Hungary the rate was just 4.3 percent — the fourth lowest jobless in the bloc.

Featured photo illustration by Márton Mónus/MTI