Number of jobless up 56,000 in March
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In March 2020, the average monthly number of employed people stood at 4.442 million, down 56,000 compared to the previous month, according to data by the Central Statistical Office (KSH).
The employment rate of 15-64-year-olds fell by 0.9 percentage point compared to February, to 69.2%.
The statistical agency notes that out of the 56,000 people who lost their jobs, 54,000 became "economically inactive", while 2,000 became unemployed.
KSH says that the economic effect of the coronavirus pandemic is only partially present in the March data.
Over the period of January–March 2020, the average number of employed people was 4.466 million; the employment rate of people aged 15–64 was 69.7%. Compared to the first three months of 2019, the number of employed people decreased by 0.7% to 4.466 million.
Employment fell by 16,000 both in the primary labor market and in public work programs and was unchanged among those working at local units abroad.
Of those between the ages of 15 and 64, 4.386 million were classified as employed, with an overall employment rate of 69.7%.
The number of employed among men declined by 20,000 to 2.414 million, and their employment rate by 0.4 percentage points to 76.9%. The number of women employed decreased by 23,000 to 1.973 million, and their employment rate to 62.5%
The employment rate of people aged 20–64, the coverage regarding the development of employment objectives defined in the Europe 2020 Strategy, was the same as the European Union’s target for 2020, 75%. In Hungary, the employment rate of this age group is currently 82.9% for men and 67.1% for women.
Unemployment rate at 3.7% in Q1
In the period of January–March 2020, the average number of unemployed people was 173,000, and the unemployment rate was 3.7%.
The average number of unemployed people in March was 168,000 and the unemployment rate was 3.7%, almost unchanged compared to the February data.
However, as the article mentions above, the number of jobless people increased significantly compared to the previous month, by about 56,000. KSHʼs survey, which is also suitable for international comparison (according to International Labor Organization definitions), classifies 54,000 of these people as inactive rather than unemployed.
The statistical agency argues that the vast majority of people who lost their jobs did not actively look for work or could not get a job within two weeks, mainly due to restrictions on personal relationships.
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