KSH: June-August unemployment falls to 7.6%

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Hungary's unemployment rate was 7.6% in June-August, down 2.3% from the same period a year ago, according to the Central Statistics Office’s data (KSH) released today.

These figures include "fostered workers", who receive government benefits that amount to less than the minimum wage in exchange for work provided by the government. According to Portfolio.hu, if fostered workers are included in the ranks of unemployed, the unemployment rate would be 11%

Out of all unemployed people, 20.6% belonged to the 15–24 age group. Their unemployment rate was 21.1%, 6.8% lower than a year ago, according to KSH.

About half (50.6%) of all unemployed people had been searching for a job for one year or more. The average duration of unemployment was 19.2 months, KSH noted.

Looking from the perspective of employment, the KSH said that 4.5% more people were working in June-August as compared to the same period last year.

The number of employed people totaled 4,158 thousand between June and August, KSH said. Out of these, 4,127 thousand were between 15 and 64 years old. The employment rate of that particular age group reached 62.4%, up 3.4% from the previous year.

The employment rate of people in the “best working age” - 25–54 years - has increased by 3% year-on-year, to 79.1%, KSH notes.

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