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Unemployment Rate at 3.9% in September

HR

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The unemployment rate in Hungary stood at 3.9% in September 2023, according to data published by the Central Statistical Office (KSH).

The number of unemployed people stood at 191,000.

According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 4.4% year-on-year to 228,000 by the end of the month.

July-September Unemployment Rate up Slightly

In the July–September 2023 period, the number of unemployed persons aged 15–74 increased by 22,000 to 200,000, while their unemployment rate rose by 0.4 percentage points to 4.1%. Among males, the number of unemployed persons was 104,000, and their unemployment rate was up by 0.2 percentage points to 4%. Among females, the number of unemployed people was 96,000, and their unemployment rate rose by 0.6 percentage points to 4.2%.

The number of unemployed people aged 15–24 years was 40,000, with an unemployment rate of 12.4%. This group accounted for 19.8% of all unemployed. The unemployment rate for 25-54 year olds rose by 0.4 percentage points to 3.6%, while for 55-74-year-olds, it was practically unchanged at 3.1%.

The unemployment rate was highest in Southern Transdanubia (6.8%), and lowest in Budapest (1.9%). Compared to the same period of the previous year, the rate increased most in South Transdanubia (by 2.1 percentage points), while in the capital - alone among the regions - it decreased significantly (by 0.8 percentage points).

The average duration of job search was 9.3 months, and 36.9% of the unemployed had been looking for a job for at least a year.

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