ADVERTISEMENT

KSH: Jobless rate drops to 6.2% in Oct-Dec

Tourism

Image by Pixabay

Hungary’s official unemployment rate dropped by 1% year-on-year to 6.2%, decreasing by approximately 38,000 to 281,000 workers, in the period of October-December, Hungary’s Central Statistical Office (KSH) reported today.

Experts say the actual unemployment rate is higher than the official figure, which counts Hungarians working abroad and people working for the stateʼs workfare program as being employed.

According to data by KSH, men were characterized by a lower level of unemployment, and the improvement was also higher in their case.

The annual average number of unemployed was 308,000 last year, down by 35,000 from the preceding year, KSH said. The unemployment rate decreased by 0.9 percentage points to 6.8% compared to the previous year, KSH said.

In the period of October-December, the number of 15–74 year-old unemployed men dropped by 25,000 to 146,000, and their unemployment rate by 1.2 percentage points to 5.9%, while the number of unemployed women was down by 13,000 to 135,000, and their unemployment rate by 0.7 percentage points to 6.5%.

According to the administrative data of the National Employment Service, at the end of December 2015, the total number of registered jobseekers was 337,000, which means a 13.7% decrease, KSH noted.

Takarékbank analyst Gergely Suppan told Hungarian new agency MTI that the number of new jobs added to the economy, excluding fostered workers and Hungarians working abroad, was up from the previous three-month period. He added that business confidence indicators augur further hiring. Erste Bank analysts Vivien Barczel and Gergely Ürmössy told MTI the unemployment rate could drop to 6.5% this year from 6.8% in 2015.

ADVERTISEMENT

Pressure increasing on CFOs - PwC survey Analysis

Pressure increasing on CFOs - PwC survey

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.