Hungary jobless rate edges up to 10.8% in Aug-Oct

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The average unemployment rate in Hungary was 10.8% in the 15-74 age group in August-October, up from 10.7% in July-September and down from 10.9% one year earlier, the Central Statistics Office (KSH) said on Monday.

In the 15-64 age group, the jobless rate was 10.9% in August-October, also 0.1 percentage point higher than in the previous three-month period and unchanged from a year earlier.

The jobless rate rose for the first time since January-March when it reached 11.6% in the 15-74 age group and 11.7% in the 15-64 age group.

The number of unemployed as well as the number of employed rose in both age groups from July-September as well as from August-October 2010, and the activity rates rose both comparisons.

The number of unemployed in the 15-74 age group averaged 468,000 in August-October 2011, up 6,000 from July-September and up 2,400 from a year earlier.

The number of employed within the same age group also rose, by 7,400 from July-September by 39,900 from a year earlier to 3,863,400.

The jobless number in the 15-64 age group rose 5,700 from the previous three-month period and by 2,400 in one year to 467,600, and the number of employed rose in this age group by 6,100 from July-September and by 35,900 in one year to 3,828,200.

The activity rate in both age groups rose from July-September, by 0.2 percentage points to 56.4% in July-September for the 15-74 age group and by 0.3 percentage points to 63.5% for the 15-64 age group. The activity rates for both age groups were up by 0.6 percentage points from twelve months earlier.

15- to 24-year-olds accounted for 17.6% of those unemployed in August-October. The unemployment rate in this age group was 27.0%, up from 26.8% in the previous three-month period but hardly changed from a year earlier.

The jobless rate for the most active, 25-54 age group rose to 9.8% from 9.7% in July-September, and little changed from a year earlier.

About 47.9% of the unemployed have been seeking jobs for a period of one year or longer, less than the 49.7% measured in the preceding three months. The average period of unemployment was 17.7 months, less than the 17.9 months in July-September.

Average unemployment in 2010 was 11.2%, up 1.2 percentage points from 2009. The rate rose from a low of 7.5% in the summer of 2008 to peak at 11.8% in the first months of 2010. The jobless rate dropped to 10.8% by autumn 2010, but rose again late 2011 before a renewed decline started early this year.

 

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