UPDATE - Hungary jobless rate edges down to 10.7% from year earlier

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The average unemployment rate in Hungary was 10.7% in the 15-74 age group in October-December, inching up from 10.6% in September-November but falling from 10.8% in the same period a year earlier, data published by the Central Statistics Office (KSH) on Tuesday show.

In the 15-64 age group, the jobless rate was 10.7% in October-December, level with the rate in September-November but under the 10.9% rate in the same period a year earlier.

The jobless rate in the 15-74 age group for the full year of 2011 fell to 10.9%.

There were 459,000 unemployed Hungarians in the 15-74 age group in October-December, down from 460,300 in September-November and from 462,100 in the same period a year earlier. The number of employed Hungarians fell to 3,850,600 in October-December from 3,869,900 in September-November but was up from 3,804,300 in the same period a year earlier.

The employment rate in the age group slipped to 50.2% in October-December from 50.4% in September-November but was up from 49.5% in the same period a year earlier. The workforce participation rate edged down to 56.2% in October-December from 56.4% in September-November but was up from 55.5% in the same period a year earlier.

The unemployment rate in the 25-54 age group was 9.7% in October-December. The unemployment rate in the 15-24 age group was 26.3%.

About 47.3% of the unemployed in the 15-74 age group had been seeking work for a year or more in October-December. The average time spent unemployed was 17.6 months.

The "employed" in the statistics include people with all forms of employment contracts who have worked more than one hour a week during the period or are on sick leave.

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