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Jobless Rate Falls to 3.6% in November

MTI-Hungary Today 2019.01.03.

Hungary’s rolling average three-month jobless rate was 3.6% in November, down from 3.7% in the previous month, the Central Statistical Office (KSH) said.

The rate, which covers unemployment among those between the ages of 15 and 74, was close to the average for the previous twelve months. In absolute terms, there were 168,700 unemployed, 4,200 fewer than in the previous month and 8,800 fewer than in the same month a year earlier.

The number of employed stood at 4,494,500 among 15-74-year-olds, 44,300 more than in the same period a year earlier. The employment rate was 60.5%, up 0.7 of a percentage point. The number of employed included 130,700 Hungarians in fostered work programmes and 110,200 working abroad. The number of those employed on the domestic primary labour market rose by 2.2% from a year earlier to 4,253,500, while the number of fostered workers dropped by 28.7%. The number of those working abroad was down 3.7%.

The finance ministry said that Hungary’s 3.6% jobless figure is the third most favourable rate in the European Union after the Netherlands and Malta. More and more people are being employed in high value-added jobs and the gaps between regions are narrowing, it added.