KSH: Hungary’s jobless rate drops a hair to 6% in Q1

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The unemployment rate in Hungary dropped 0.1 of a percentage point to 6% during the period of January-March, the Hungarian Central Statistical Office (KSH) said this morning in a first release of data.

According to data from KSH, the number of employed averaged 272,800 during the period of January to March, while the total number of employed people was 4.262 million, 145,000 more than a year earlier.

The employment rate of people aged 15–64 reached 65.1%, with the improvement of employment indicators among men being stronger.

There were 2.981 million economically inactive Hungarians – neither employed nor seeking employment – from January to March, down from 3.083 million a year earlier. Concurrently, the activity rate rose to 60.3% from 59.2%, Hungarian news agency MTI reported.

Experts maintain that the real unemployment rate is higher than the official figure, which counts Hungarians working abroad and people working for the stateʼs workfare program as employed. These numbers increased by 15,000 and 32,000 respectively, KSH reported.

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