Hungarian unemployment rises as more young people look for jobs

Tourism

Hungary' unemployment rate rose to 7.4% in the three months from August to October as young people struggled to find jobs, the country's statistics office said today.

The average unemployment rate in the three months rose from 7.3% in May-July, the office said. It compares with 7.3% in the year-ago period. Unemployment in Hungary is lower than in the dozen countries using the euro and is less than in other east European nations like the Czech Republic, Poland and Slovakia. Still, the Hungarian rate is set to rise as the government sheds jobs to cut its budget deficit. The number of Hungarians employed rose to 3.96 million from 3.93 million a year earlier. People younger than 24 accounted for 22.3% of unemployed in the three months to October, the statistics office said. Of all the jobless, 47.4% have been unemployed for more than a year. (Bloomberg)

ADVERTISEMENT

EU-funded fact-checking website in Hungary launches Analysis

EU-funded fact-checking website in Hungary launches

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

Most employees want exit interviews HR

Most employees want exit interviews

Most districts not planning mandatory vaccination at kinderg... City

Most districts not planning mandatory vaccination at kinderg...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.