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Unemployment rate drops to 9.8% in October

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The Central Statistics Office (KSH) has reported that in August-October 2013, the number of unemployed in Hungary was 434,000, 29,000 fewer than in the same period of 2012, the unemployment rate decreased by 0.7% to 9.8%.

In August-October 2013, among the 15- to 74-year-old male population, 235,000 were unemployed, 17,000 fewer than a year earlier and their unemployment rate decreased by 0.8% to 9.8%.

The number of unemployed women was 199,000, their unemployment rate was 9.8%, 0.6% lower year-on-year.

Among the ranks of unemployed, 19.6% belonged to the 15-24 age group. The unemployment rate for this age group was 26.8%, 3.3% lower than a year ago. The unemployment rate of those aged 25-54, i.e. persons belonging to the “best working age,” decreased by 0.7% to 8.7% while those aged 55-64 increased by 0.6% to 7.7%.

55.5% of unemployed people had been searching for a job for one year or more. The average duration of unemployment was 19.6 months.

According to the administrative data of the National Labor Office, at the end of October 2013, the number of registered jobseekers was 489,000, 6.6% less than in October 2012.

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