Unemployment Rate at 4% in March

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The unemployment rate in Hungary stood at 4% in March, according to data published by the Central Statistical Office (KSH).

The number of unemployed persons reached 195,000.

According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 3% year-on-year to 244,000 at the end of March.

January-March Unemployment at 4.1%

In the January–March 2023 period, the number of unemployed persons aged 15–74 increased by 18,000 to 199,000, while their unemployment rate rose by 0.3 percentage points to 4.1% compared to the same period last year. Among males, the number of unemployed persons was 105,000, and their unemployment rate was up by 0.2 percentage points to 4.1%. Among females, the number of unemployed people was 94,000, and their unemployment rate rose by 0.5 percentage points to 4.1%.

The number of unemployed people aged 15–24 years was 32,000, with an unemployment rate of 10.3%. This age group accounted for 15.9% of all unemployed. The unemployment rate for the 25–54 age group rose by 0.4 percentage points to 3.7%, while that for the 55–74 age group increased by 0.2 percentage points to 3.2%.

In regional terms, the unemployment rate was highest in Northern Great Plain (6.9%), and lowest in Central Transdanubia (1.9%). Compared to the same period of the previous year, the rate increased most in Southern Transdanubia and Southern Great Plain (both by 0.8 percentage points), while in Budapest - alone among the regions - it decreased (by 0.1 percentage points).

The average duration of job search was 9.2 months, and 32.7% of the unemployed had been looking for a job for at least a year.

 

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