Ministry: Joblessness to drop under 5%

History

The jobless rate in Hungary is foreseen to drop under 5%, Hungary’s Ministry of National Economy said in an announcement on Friday, thanks to a “favorable tendency” in the Hungarian labor market that is expected to continue.

Minister of National Economy Mihály Varga noted that the Hungarian government is committed to reaching full employment in the country. The minister stressed that employment data are the most favorable since the change of regime in Hungary, adding that Hungary’s employment policy stands at the beginning of a new era. 

Hungaryʼs jobless rate dropped by 1.8% to 5.1% in the April-June period, as compared to the corresponding period a year earlier, Hungary’s Central Statistical Office (KSH) announced in a report. Experts maintain that the real unemployment rate is higher than the official figure, which counts Hungarians working abroad and people on welfare as employed.

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