The unemployment rate fell by 0.6 percentage points to 3.9% compared to May 2020.
The average number of unemployed in the March-May 2021 period was 198,000, with an unemployment rate of 4.1%.
Compared to the same period of 2020, both the number of unemployed persons aged 15-74 and the unemployment rate increased slightly: the former by 8,000 to 198,000, the latter by 0.1 percentage point to 4.1%. Among men, the number of unemployed persons was 101,000, while the unemployment rate decreased by 0.2 percentage points to 3.9%, while among women the number of unemployed persons rose to 97,000, while the unemployment rate increased by 0.4 percentage points to 4.3%.
The number of unemployed people aged 15-24 increased to 38,000, and their unemployment rate rose by 0.2 percentage points to 12.4%. Nearly one-fifth of the total unemployed were young people. The unemployment rate for 25-54-year-olds was the same as a year earlier at 3.7%, while the unemployment rate for 55-74-year-olds rose by 0.7 percentage points to 3.1%.
The average time spent looking for a job was 8 months and 29.2% of the unemployed had been looking for a job for at least a year.
At the end of May 2021, the number of registered jobseekers stood at 274,000, down 24.6% y.o.y., according to the administrative data of the National Employment Service.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
