Unemployment Rate at 3.5% in July

HR

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

The number of unemployed persons amounted to about 173,000.

According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 11.8% to 231,000.

May-July Unemployment Rate at 3.3%

In May–July 2022, the average number of unemployed persons equaled 160,000 and the unemployment rate was 3.3%, KSH writes.

The number of unemployed persons aged 15–74 years decreased by 37,000 and their unemployment rate by 0.8 percentage points. Among males, the number of unemployed persons was 88,000, and the unemployment rate was down by 0.6 percentage points to 3.4%. Among females, the number of unemployed people equaled 72,000, and the unemployment rate fell by 1 percentage point to 3.2%.

The number of unemployed people aged 15–24 years fell to 30,000 and their unemployment rate by 4.8 percentage points to 9.9%, however, they accounted for 18.5% of total unemployment. The unemployment rate of the 25–54 age group fell by 0.6 percentage points to 2.8%, while the unemployment rate for 55-74-year-olds remained virtually unchanged at 3% (+0.1 percentage points).

The average time spent looking for a job was 9.9 months, and 36.8% of the unemployed had been looking for a job for at least a year.

 

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