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