Unemployment rate at 3.5% in May

HR

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The unemployment rate in Hungary stood at 3.5% in May 2022, down from 3.6% in April, according to data published by the Central Statistical Office (KSH).

The number of unemployed persons stood at 169,000.

According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 14.7% to 234,000 at the end of May.

Unemployment dropping in March-May

In March-May 2022, the number of unemployed persons aged 15–74 years decreased by 33,000 and their unemployment rate by 0.7 percentage points, compared to the same period of 2021.

Among males, the number of unemployed persons was 92,000, and the unemployment rate was down by 0.4 percentage points to 3.6%. Among females, the number of unemployed people equaled 72,000, and the unemployment rate fell by 1.2 percentage points to 3.2%.

The number of unemployed people aged 15–24 years fell to 29,000 and their unemployment rate by 2.5 percentage points to 9.9%, however, they accounted for 17.6% of total unemployment. The unemployment rate of the 25–54 age group fell by 0.7 percentage points to 2.9%, while that of the 55–74-year-olds was practically unchanged at 3.1%.

The average time spent on looking for a job was 9.9 months, and 35.9% of the unemployed had been looking for a job for at least a year, according to KSH.

 

 

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