Jobless rate down to 3.8% in July-September

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Hungaryʼs rolling average three-month jobless rate reached 3.8% in July–September 2018, edging up from 3.7% in the previous three-month period, but falling from 4.1% in the corresponding period a year earlier, the Central Statistical Office (KSH) said on Tuesday.

In July–September 2018, the average number of unemployed people was 178,200, some 10,300 fewer than a year earlier. The jobless rate among men aged 15–74 declined by 0.2 of a percentage point to 3.4%, while among women, the jobless rate fell 0.3 of a percentage point to 4.4%. The changes, both for men and women, were within the limits of the sampling error.

Among those aged 15–24, the rate of unemployment was essentially unchanged from the preceding three-month period, at 10.7%, but down 0.6 of a percentage point year-on-year. More than one-fifth of the unemployed belonged to this age group.

The jobless rate in the age group 25–54, i.e. persons belonging to the "best working age," also stagnated, at 3.4%, while among those aged 55–74, the rate fell 0.7 of a percentage point year-on-year to 2.7%.

The average duration of unemployment was 15.1 months in July–September; some 40.4% of jobless people had been searching for a job for one year or more, i.e. were classed as long-term unemployed.

Among regions of Hungary, the unemployment rate was the highest in Northern Great Plain (6.9%), and the lowest in Central Transdanubia (1.9%).

36,000 more people in work

In the period July–September 2018, the average number of employed people aged 15-74 was 4,486,800, some 36,100 more than a year earlier, an increase of 0.8%.

The increment in the domestic primary labor market was 96,500 (up 2.3%), while the number of people on government work schemes decreased by 54,300, down 28.4% year-on-year.

The vast majority of employed people were aged 15–64, among whom the employment rate rose 0.8 of a percentage point to 69.5%.

The number of employed men aged 15–64 increased by 0.6%, and their employment rate by 0.7 of a percentage point to 76.6%. Among 15–64 year-old women, the number of employed grew by 0.5%, and their employment rate by 0.8 of a percentage point to 62.5%.

Among young people aged 15–24, the employment rate remained essentially unchanged, at 29.7%. In the "best working age" 25–54 group, the employment rate was also unchanged, at 84.1%. In the older, 55–64 age group, the employment rate grew by 2.5 percentage points year-on-year to 54.9%.

The employment rate among people aged 20–64 – the coverage regarding the development of employment objectives defined in the Europe 2020 Strategy – grew by 0.8 of a percentage point to 74.6%. The European Union has targeted raising the average employment rate to 75% by 2020; in Hungary, the employment rate in this age group is currently 82.5% for men, and 67.0% for women.

Unemployment and employment figures for the next three-month period of August–October 2018 will be published on November 28.

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