ADVERTISEMENT

Unemployment Rate at 3.5% in July

HR

Image by Victoria Labadie / Shutterstock.com

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.

 

ADVERTISEMENT

Economic Development Ministry Responds to Banking Concerns Banking

Economic Development Ministry Responds to Banking Concerns

Parl't Approves Amendments to Legislation on Judiciary Parliament

Parl't Approves Amendments to Legislation on Judiciary

Hungary Home Stock Grows as Population Declines Residential

Hungary Home Stock Grows as Population Declines

New MTÜ Campaign Invites Tourists to Relax at the Waterfront Tourism

New MTÜ Campaign Invites Tourists to Relax at the Waterfront

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.