Unemployment Rate at 3.8% in September
Photo by Fizkes / Shutterstock.com
The unemployment rate in Hungary stood at 3.8% in September 2022, according to data published by the Central Statistical Office (KSH).
The number of unemployed persons stood at 185,000.
According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 4.8% year-on-year to 238,000.
July-September Unemployment Rate at 3.6%
In the July–September 2022 period, the average number of unemployed persons equaled 178,000, and the unemployment rate 3.6%.
Compared to the same period in 2021, the number of unemployed persons aged 15–74 years decreased by 11,000 and their unemployment rate by 0.3 percentage points. The number of unemployed men was 97,000, while their unemployment rate of 3.7% was practically the same as a year earlier (+0.1 percentage points). Among females, the number of unemployed people equaled 81,000, and the unemployment rate fell by 0.5 percentage points to 3.5%.
The number of unemployed people aged 15–24 years fell to 34,000 and their unemployment rate by 3.7 percentage points to 10.8%, however, they accounted for 19.2% of total unemployment. The unemployment rate of the 25–54 age group remained virtually unchanged at 3.2% (–0.1 percentage points), while that of the 55–74-year-olds was up by 0.3 percentage points to 3%.
The unemployment rate was highest in Northern Hungary (6%), and lowest in Central Transdanubia (1.9%). Compared to the same period last year, the rate increased slightly in three regions, Southern Transdanubia (0.1 percentage points), Budapest (0.3 percentage points), and Western Transdanubia (0.5 percentage points), while the other regions saw a decrease, most notably in Northern Great Plain (1.2 percentage points).
The average time spent on looking for a job was 9.2 months, and approximately 33.9% of the unemployed had been looking for a job for at least a year.
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.