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Hungary’s jobless rate drops to 4.4% in Dec-Feb

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Hungary’s unemployment rate dropped by 1.7 percentage points to 4.4% in the December-February period, as compared to the equivalent period a year earlier, the Central Statistical Office (KSH) reported today in a first release of data. The improvement in the rate was greater among women, as a result of which joblessness dropped lower among women than men.

In December-February, the unemployment rate among 15–74 year-old men decreased by 1.6 percentage points to 4.5%, while that of women declined by 1.8 percentage points to 4.4%, compared to the corresponding period a year earlier.

The unemployment rate in the 15–24 age group decreased by 3.2 percentage points to 11.1%, while the jobless rate among those aged 25–54 — i.e. persons belonging to the ‘best working age’ — decreased by 1.6 percentage points to 3.9%. The rate for persons aged 55–64 fell by 1.4 percentage points to 4.2%, KSH data show.

In the period, the average duration of unemployment was 17.8 months, and 47.2% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed.

At the end of February, the total number of registered job seekers had decreased by 19.1% to 297,000, according to administrative data of the National Employment Service.

In December–February, the number of employed people was 4.372 million, 130,000 more than a year earlier, the KSH said in a separate first release of data report. The employment rate of people aged 15–64 increased to 67.1%, with similar improvements in the employment indicators of women and men, according to the KSH.

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