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Stats Office: Unemployment Rate In Hungary Drops To 5,5%, The Lowest In 13 Years

Tamás Székely 2016.06.29.

The average unemployment rate among 15- to 74-year-olds in Hungary fell to 5.5% in March-May, the Central Statistical Office (KSH) said. The rate was down from 5.8% in February-April and 7.1% in the same period a year earlier. The jobless rate was the same for those aged 15-64 in March-May.

ksh

KSH noted that the unemployment rate for career-starters between the ages of 15 and 24 stood at 13.8%, dropping 4.0 percentage points in a year. The rate for Hungarians aged 25-54 was 5.0%, down 1.3 percentage points, and the rate for 55- to 64-year olds fell 2.0 percentage points to 4.3%. There were 250,700 unemployed in the 15-74 age group in March-May. Their number fell 69,900 in one year.

The number of employed stood at 4,313,800, rising 148,700 year-on-year. Of those employed in the 15-74 age group, 118,200 worked abroad. The number was up 8,400 — within the margin of error — in twelve months. There were 224,300 public workers among the employed, up 24,800 yearon-year. The number of people employed on the Hungarian labour market rose 115,600 to 3,971,300 during the period.

The average time spent looking for work was 18.2 months in March-May. About 47.5% of the unemployed had been seeking a job for one year or more. There were 2,942,800 economically inactive Hungarians — those neither employed nor seeking work — during the period, down 112,500 from a year earlier. At the same time, the activity rate rose to 60.8% from 59.5%.

The number of Hungarians in employment has been above 4 million for more than two years, and there have not been as many people in employment in Hungary for 26 years as there are today, state secretary responsible for the labour market and training Péter Cseresnyés said in repsonse to the data. “The Hungarian reforms are working”, he said, adding that the rate of unemployment has become the lowest in 13 years.

via hungarymatters.hu and kormany.hu; graph: ksh.hu