ADVERTISEMENT

Unemployment rate at 3.4% in Nov-Jan

Tourism

Photo by Fizkes / Shutterstock.com

The unemployment rate stood at 3.4% in the period between November 2019-January 2020, with the average number of unemployed people standing at 160,000, according to data by the Central Statistical Office (KSH).

Photo by Fizkes/Shutterstock.com

Compared to the same period a year before, unemployment among 15–74 year-old men fell by 10,00 to 86,000 and their unemployment rate by 0.4 percentage points to 3.4%. The number of unemployed among women totaled 74,000, and the unemployment rate was 3.5%.

Among people aged 15–24, the number of unemployed decreased to 35,000 and their unemployment rate to 10.9%. More than 20% of the unemployed belonged to this age group.

The unemployment rate of the 25–54 age group decreased to 3.1%, and that of people aged 55–74 decreased to 1.9%.

The average duration of unemployment was 11.2 months; 31% of unemployed people had been searching for a job for one year or more.

According to the administrative data of the National Employment Service, the total number of registered jobseekers decreased by 1.7% to 250,000 at the end of January 2020.

ADVERTISEMENT

Czech economic confidence weakens in November Analysis

Czech economic confidence weakens in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

The strongest move - Morgan Stanley Hungary head and Chess F... Podcasts

The strongest move - Morgan Stanley Hungary head and Chess F...

New Jewish cultural hub opens in Budapest City

New Jewish cultural hub opens in Budapest

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.