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Unemployment rate 7.3% in March-May

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The average number of unemployed was 309,400 in March-May 2006, resulting in an unemployment rate of 7.3%, the Central Statistics Office (KSH) reported on Tuesday.

The unemployment rate slipped from 7.5% in the previous three-month period but was up from 7.2% in March-May 2005. KSH calculates the jobless rate in line with ILO standards.
Hungary's harmonized unemployment rate in April was 7.6%, below the respective EU average of 8.2% but above the EU-15's rate of 7.4%.
The number of employed averaged 3.928 million in March-May 2006, up 19,800 from the previous three months period and up 42,000 compared to the same period a year earlier. The number of unemployed in the period was down 9,100 from February-April 2006 and rose 6,500 from the same period a year earlier.
In March-May, 18.5% of the unemployed were between 15 and 24 years of age. The unemployment rate in this age group was 17.6% in the period, down 1.6 percentage points from the same period a year earlier.
Long-term unemployment rose 1.3 percentage points with 47.4% of all unemployed searching for work for one year or longer in the period. The average time spent out of work rose to 16.8 months from 16.3 months in February-April.
The participation or activity rate of the population between 15 and 74 years of age was 54.9% in March-May, up form 54.7% from the previous three months, and up 0.7 percentage points from a year earlier.

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