Despite the increase, real wages are still falling, since inflation was slightly above 20 percent for the previous 12 months.Continue reading
The EU’s statistical office paints an alarming picture of the situation on the European labor market. According to Eurostat, 18 percent of the EU population is economically inactive, i.e. people who are neither in education nor on the labor market. The rates vary from country to country, Index reports.
According to data released last Friday by the Central Statistical Office, the average number of employed people in Hungary, aged 15-74, was 4.766 million in June 2023, 51,000 more than a year ago, while the number of unemployed in the sixth month of this year was 187,000, corresponding to an unemployment rate of 3.8 percent.
According to this year’s statistics for the first quarter, slightly more than eight out of ten people, aged 15 to 64, were in the labor market during this period (81.8 percent). 76.7 percent of them were considered employed, while 5.1 percent were registered as unemployed, and 18.2 percent are outside the EU labor market.
In comparison, 18 percent of the EU population is inactive, i.e., people who are neither in education nor in the labor market.
As for the lowest unemployment rate in Europe, Sweden leads the imaginary podium with 8.3 percent, followed by Estonia (12.3 percent) and the Czech Republic (13.6 percent).
Hungary is just behind, ranking fourth, at 13.65 percent.
According to the statistics, Romania has the highest unemployment rate (25.8 percent) followed by Italy (25.6 percent) and Greece (22.8 percent).
Via Index, Featured image via Pexels
