Jobless rate down to 5%, latest stats show

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In the period May–July 2016, the number of official unemployed in Hungary fell by 78,000 to 228,000 compared to the same period of 2015, a reduction in the jobless rate of 1.8 percentage points to 5.0%, according to a flash report released Tuesday by the Central Statistical Office (KSH).

According to the KSH, between May and July a total of 4,372,000 Hungarian citizens were in employment, with some 236,000 of these employed on government work schemes, while 118,000 were working abroad.

The number of those working abroad increased the most, by 6.5%, with a total of 7,100 people travelling to work abroad in the three months concerned. The number of those employed on public work schemes grew by 6%, while some 3.3% more people found work on the primary domestic labor market than in the same period of 2015.

The average length of unemployment was measured at 18.8 months, with some 49.6% of unemployed people looking for a job for at least one year. Joblessness remains much higher among young people than among the overall populace, with 12.8% of those aged 15–24 still looking for employment (not counting those still in school), although this figure has declined by almost 5 percentage points in the last year.

In the 25–54 age group, the rate of unemployment was 4.5%, while the rate was 3.7% among those aged 55–64. These two figures represent year-on-year decreases of 1.5 and 1.9 percentage points, respectively.

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