Jobless rate drops to 5.1% in 2016
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Hungary’s jobless rate dropped by 1.7 percentage points to 4.4% in the October-December period of last year, as compared to the corresponding period of 2015, the Central Statistical Office (KSH) said in a first release of data Monday. The unemployment rate decreased by 1.7 pps to 5.1% in 2016, compared to the previous year.
In the October-December period, the ratio of unemployment among men aged 15–74 dropped by 1.5 percentage points to 4.4%, while for women it dropped by 2 pps to 4.5%, according to the KSH data.
In the period, the average duration of unemployment was 17.9 months; 46.6% of unemployed people had been searching for a job for one year or more (i.e. were long-term unemployed), the KSH said.
At the end of 2016, as compared to the previous year, the total number of registered job seekers decreased by 19% to 273,000, according to administrative data of the National Employment Service, the KSH reported.
In the January-December period, the unemployment rate diminished by 1.7 pps to 5.1% in the 15–74 age group, compared to the preceding year.
The number of unemployed men aged 15–74 decreased by 34,000 to 128,000, and their unemployment rate by 1.5 pps to 5.1%, the KSH said, adding that the number of unemployed women declined to a greater extent; their number fell by 39,000 to 107,000, and their unemployment rate by 1.9 pps, also down to 5.1%.
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