Unemployment rate at 4.6% in June-August

Figures

Photo by Fizkes / Shutterstock.com

In the period of June–August 2020, the average number of unemployed people was 214,000, while the unemployment rate stood at 4.6%, according to data published by the Central Statistical Office (KSH).

Compared to June-August 2019, the number of unemployed people grew by 58,000, and their unemployment rate by 1.2 percentage points.

Among men, the number of unemployed increased to 109,000, and the unemployment rate to 4.2%. In the case of women, the number of unemployed rose to 105,000 and the unemployment rate to 5%

Among people aged 15–24, the number of unemployed was 48,000 and their unemployment rate 14.8%. More than one-fifth of the unemployed belonged to this age group, KSH notes. The unemployment rate for people aged 25–54 grew by 1.1 percentage points to 4%, and for people aged 55–74 increased by 0.4 percentage points to 2.9%.

The average duration of unemployment was 9.8 months; 25.9% of unemployed people had been looking for a job for one year or more.

Unemployment rate at 3.9% in August 2020

In August 2020, the average number of unemployed people was 185,000, and the unemployment rate was 3.9%

The number of unemployed decreased by 32,000 compared to the previous month and increased by 28,000 compared to August 2019.

The unemployment rate decreased by 0.7 percentage points in one month and rose by 0.6 percentage points in one year.

At the end of August 2020, the total number of registered jobseekers was 345,000, according to administrative data by the National Employment Service.

ADVERTISEMENT

Business confidence edges up as consumer sentiment weakens Analysis

Business confidence edges up as consumer sentiment weakens

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.