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Jobless rate drops to 4.5% in Sep-Nov

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Hungary’s unemployment rate dropped by 1.7 percentage points to 4.5% in the September-November period of 2016, as compared to the corresponding period a year earlier, with the number of unemployed dropping by 76,000 to 208,000, the Central Statistical Office (KSH) said in a first reading of data today.

The unemployment rate among men in the 15–74 age group decreased by 1.7 percentage points to 4.4%, while the rate among women in the same age group also declined by 1.7 percentage points to 4.6%, according to KSH data.

The average duration of unemployment was 18.1 months; 46.3% of unemployed people had been searching for a job for one year or more (i.e. were classified as long-term unemployed), according to the statistics office. 

At the end of November 2016, the total number of registered job seekers had decreased by 22% compared to a year earlier, to 274,000, according to administrative data of the National Employment Service, the KSH reported.

At the same time, the number of employed people was 4.4 million in the September-November period, 142,000 more than a year earlier. The employment rate of people aged 15–64 increased to 67.5%, while improvement in the employment indicators of both women and men was the same, the KSH reported.

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