Unemployment Rate at 3.9% in December

HR

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The unemployment rate in Hungary rose to 3.9% in December 2022, according to data published by the Central Statistical Office (KSH).

The number of unemployed people stood at 190,000.

According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 3.5% to 230,000 by the end of December.

In 2022, for the year as a whole, the average number of unemployed people decreased to 176,000 with an unemployment rate of 3.6%.

October-December Unemployment Also at 3.9%

In October-December 2022, the number of unemployed persons aged 15–74 years increased by 9,000 to 189,000 and their unemployment rate grew by 0.2 percentage points to 3.9%. Among males, the number of unemployed persons was 103,000, their unemployment rate was up by 0.4 percentage points, reaching 4%. Among females, the number of unemployed people was 86,000, and their 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, their unemployment rate decreased by 1.4 percentage points to 11%, however, they accounted for 17.8% of total unemployment. The unemployment rate of the 25–54 age group was up by 0.3 percentage points to 3.5%, while that of the 55–74-year-olds was slightly up (by 0.1 percentage points) reaching 3%.

The unemployment rate was the highest in the Northern Great Plain (6.7%), and the lowest in Central Transdanubia (1.4%). Compared to the same period last year, the increase in the unemployment rate was the highest in the Southern Great Plain (1.3 percentage points), while its value decreased in Budapest by 0.6 percentage points.

The average time spent on job seeking was 9.3 months, and 32.4% of the unemployed had been looking for a job for at least a year.

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