Hungary’s labor market remained stable in February, with 4.68 million people employed and the unemployment rate dipping slightly to 4.5%, according to data released by the Central Statistical Office (KSH).
The number of unemployed people fell by 16,000 compared to a year earlier, totaling 214,000.
Employment remained virtually unchanged from a year earlier, with 2.49 million men and 2.20 million women in work.
The employment rate among those aged 15–64 stood at 75%. While the male employment rate remained steady at 78.7%, the rate for women edged up by 0.5 percentage points to 71.3%.
In total, 4.53 million people worked in the domestic primary labor market, 62,000 were employed in public works, and 101,000 worked abroad.
The average length of time spent searching for a job was 12.6 months. Some 41.5% of the unemployed had been seeking work for less than three months, while 36.9% were long-term unemployed for over a year.
Registered job seekers stood at 232,000 at the end of February, marking a 1.3% year-on-year decrease, according to the National Employment Service.
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