Hungary’s jobless rate drops to 4.4%
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Hungary’s jobless rate dropped by 1.1 percentage points to 4.4% in the March-May period, compared to the corresponding period a year earlier, Hungary’s Central Statistical Office (KSH) said in a first reading of data. The unemployment rate was lower for men than for women, and the rate of improvement was also higher among men.
The ratio of unemployed men aged 15–74 decreased by 1.2 percentage points to 4.2%, while the ratio of unemployed women declined by 0.9 of a percentage point to 4.7%, KSH data show.
The unemployment rate in the 15–24 age group decreased by 3.0 percentage points to 10.8%, with one-sixth of the unemployed belonging to this age group in the period concerned.
The unemployment rate of those aged 25–54, i.e. persons belonging to the "best working age," decreased by 1.1 percentage points to 3.9%.
The average duration of unemployment was 16.6 months; 44.2% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed, the KSH said.
At the end of May 2017, compared to a year earlier, the total number of registered job seekers decreased by 6.3%, according to administrative data from the National Employment Service.
Employment figures up
Separate employment figures released by the KSH show that in the period of March–May 2017, the average number of employed people was 4,393,000, some 79,000 more than a year earlier.
The employment rate among people aged 15–64 increased by 1.6 percentage points to 67.6%. The employment indicator among men improved to a greater extent than that of women.
The number of employed young people aged 15–24 years was 297,000, and their employment rate increased by 1.4 percentage points to 28.3%, KSH data show. The number of employed people also increased among those of "best working age," i.e. the 25-54 age group, by 1.4 percentage points to 83.3%.
The KSH noted that the employment rate of people aged 20-64 – the coverage regarding the development of employment objectives defined in the Europe 2020 Strategy, the EUʼs agenda for growth and jobs for the current decade – grew by 1.7 percentage points to 72.7%. The European Union targeted raising the average employment rate to 75% by 2020; in Hungary, the employment rate of this age group is currently 80.1% for men, and 65.4% for women.
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