Hungary jobless rate falls to 11.0% in Feb-Apr

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The average unemployment rate in Hungary was 11.0% in the 15-74 age group in February-April, down from 11.8% in January-March and 11.5% in the same three-month period a year earlier, data published by the Central Statistics Office (KSH) on Wednesday show. There were 476,200 unemployed on average in the age group in February-April, including 81,900 in the 15-24 age group. About 47% of the unemployed had been seeking work for one year or more. The average time spent looking for work was 16.7 months. National Labour Office data show there were 552,000 registered job-seekers in Hungary at the end of April, down 0.5% from twelve months earlier. The employment rate in the 15-74 age group was 50.7% in February-April, up from 50.0% in January-March and 49.7% in the same period a year earlier. The employment rate in the 20-64 age group was 62.1%. The employment rate in the 15-64 age group was 57.3%. Takarékbank chief analyst Gergely Suppan attributed much of the increase in the number of employed to fostered worker programmes. A fall in the number of college and university applicants this year could raise the number of economically active Hungarians, he added. Suppan said the unemployment rate could fall to 10.1% by the end of summer, but put the full-year rate at 10.7%.

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