Unemployment Rate at 4.4% in March
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The unemployment rate in Hungary stood at 4.4% in March 2024, according to data by the Central Statistical Office (KSH).
The average number of employed persons aged 15–74 increased by 38,000 from the same period of the previous year to 4.746 million. The number of unemployed persons was 217,000.
According to the administrative data of the National Employment Service, the number of registered jobseekers at the end of March 2024 decreased by 3.2% to 236,000 compared to a year earlier.
January-March Unemployment Rises Year-on-year
In the period January–March 2024, the average number of employed persons aged 15-74 was 4.725 million, some 29,000 more than a year earlier. For men, the number of employed persons was essentially unchanged at 2.48 million, while for women it rose by 41,000 to 2.245 million.
The domestic primary labor market employed 4.553 million people, 27,000 more than a year earlier. The number of people working abroad and public workers was essentially unchanged, the former at 109,000, the latter at 63,000 persons.
The employment rate for 15-64-year-olds was 74.7%, essentially the same as a year earlier. The rate remained virtually unchanged for men at 78.2%, while for women it increased by 1.1 percentage points to 71.1%.
In the period January–March 2024, the number of unemployed persons aged 15-74 increased year-on-year by 30,000 to 229,000 persons, while the unemployment rate rose by 0.6 percentage points to 4.6%.
For males, the number of unemployed was 126,000 and their unemployment rate rose by 0.8 percentage points to 4.8%. For females, the number of unemployed was 103,000 and their unemployment rate rose by 0.3 percentage points to 4.4%.
The average time spent looking for a job was 8.9 months, 43% of all unemployed had been looking for a job for less than three months, and 33% for at least a year.
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