Unemployment Rate at 3.8% in November

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In November 2022, the unemployment rate in Hungary stood at 3.8%, according to data released by the Central Statistical Office (KSH).

The number of unemployed persons stood at 187,000 in the penultimate month of 2022.

Unemployment grew by 0.2 percentage points compared to October.

The number of registered jobseekers decreased by 3.6% year-on-year, standing at 234,000 at the end of November 2022.

September-November Unemployment at 3.8%

In September-November 2022, the number of unemployed persons aged 15–74 years increased by 7,000 to 184,000, and their unemployment rate by 0.1 percentage point to 3.8% compared to the same period of 2021. Among males, the number of unemployed persons was 98,000, and the unemployment rate was up by 0.4 percentage points to 3.8%. Among females, the number of unemployed people was 86,000, and the unemployment rate fell by 0.2 percentage points to 3.8%.

The number of unemployed people aged 15–24 years fell to 34,000 and their unemployment rate by 1 percentage point to 10.9%, however, they accounted for 18.5% of total unemployment. The unemployment rate of the 25–54 age group rose by 0.2 percentage points to 3.4%, while that of the 55–74-year-olds was up slightly (by 0.1 percentage points) to 2.8%.

The average time spent looking for a job was 9 months, and 31% of the unemployed had been looking for a job for at least a year.

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