KSH: Unemployment down to 10.1%

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From the Central Statistics Office (KSH) today came its quarterly report on unemployment, with top news certainly the overall decrease in unemployment to 10.1%.

The total number unemployed in Hungary for the May to July period was 446,000, down 0.4% from about 459,000 year-on-year from 2012.  Among males aged 15-74, 240,000 were unemployed, 19,000 fewer than in 2012 for a 10.0% jobless rate. Females saw 0.3% jump to 10.2%.

Of the total unemployed,  about 19.5% are aged 15-24 years and this demographic registered a 27.8% unemployment rate, highest among all age groups but still showing a 0.3% uptick y.o.y. Those aged 25-54, meanwhile, saw a drop of 0.6% for a 9.0% unemployment rate.

For the previous three months, the unemployment rate was 11.0%.

KSH further noted that 50.9% of those unemployed had been seeking work for 12 months or more as of the end of July and the average duration of unemployment was 18 months. The National Labour Office (NMH) reported that the number of registered jobseekers at the end of July was 497,000, a 5.8% decrease y.o.y.

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