Jobless rate edges down to 3.6%

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Hungaryʼs three-month rolling average jobless rate reached 3.6% in the period of December 2018–February 2019, edging down from 3.7% in the previous three-month period, and 3.8% twelve months earlier, the Central Statistical Office (KSH) said on Thursday.

In December 2018–February 2019, compared to a year before, the unemployment rate among men aged 15–74 increased to 3.6%, while among women, the jobless rate declined by 0.7 of a percentage point to match men at 3.6%.

Among people aged 15–24, the unemployment rate rose to 11.8%, up 0.8 of a percentage point year-on-year. Nearly one-quarter of the unemployed belonged to this age group. The unemployment rate in the 25–54 age group, i.e. persons belonging to the "best working age," was 3.1%, while joblessness among people aged 55–74 was 2.3%.

The average duration of unemployment was 13.7 months; 37.8% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed.

According to administrative data of the National Employment Service (NFSz), the total number of registered jobseekers decreased by 4.9%. 

In absolute terms, there were 168,200 unemployed in the period, some 1,600 fewer than in the previous month, and down 9,600 from a year earlier.

The number of employed Hungarians stood at 4,497,400 among 15- to 74-year-olds, 56,300 more than in the same period a year earlier. The employment rate was 60.6%, up 0.9 of a percentage point.

Unemployment and employment figures for the next three-month period of January–March 2019 will be published on April 29.

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