Unemployment rate at 3.9% in October

Figures

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In October 2021, the unemployment rate stood at 3.9%, according to data released by the Central Statistical Office (KSH).

The number of unemployed persons aged 15–74 decreased by 17,000 and their unemployment rate by 0.4 percentage points. Among men, the number of unemployed persons was 91,000 and the unemployment rate decreased by 0.6 percentage points to 3.5%, while among women there was no significant change, the number of unemployed was 94,000 and the unemployment rate was 4.1%.

The number of unemployed 15–24-year-olds increased to 43,000 and their unemployment rate rose by 1.9 percentage points to 13.7%. Nearly a quarter of all unemployed were young people. The unemployment rate for 25–54-year-olds fell by 0.6 percentage points to 3.2% and for 55–74-year-olds by 0.3 percentage points to 2.8%.

The average time spent looking for a job was 9.2 months and 35.8% of the unemployed had been looking for a job for at least a year, KSH notes.

According to the administrative data of the National Employment Service (https://nfsz.munka.hu/), the number of registered jobseekers decreased by 19.6% year-on-year to 246,000 at the end of October.

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