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Unemployment rate at 5% in January

Figures

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The number of unemployed in Hungary stood at 238,000 in January, up 54,000 compared to the same period of 2020, according to data by the Central Statistical Office (KSH).

The unemployment rate stood at 5%.

Compared to December 2020, the number of unemployed increased by 38,000 and the unemployment rate by 0.8 percentage points. Compared to January 2020, the unemployment rate by 1.1 percentage points.

Rolling unemployment rate at 4.3% in November-January

In November 2020-January 2021, the number of unemployed people aged 15–74 grew by 49,000 to 209,000 and their unemployment rate increased by 1 percentage point to 4.3%. Among men, the number of unemployed increased by 22,000 to 108,000 and the unemployment rate grew by 0.8 percentage points to 4.2%. In the case of women, the number of unemployed rose by 27,000 to 101,000 and the unemployment rate increased by 1.2 percentage points to 4.5%.

Among people aged 15–24, the number of unemployed increased to 40,000 and the unemployment rate by 2.3 percentage points to 13%. Nearly one-fifth of all unemployed come from this age-group. Unemployment rates for people aged 25–54 grew by 0.9 percentage points to 3.9%, and for people aged 55–74 increased by 1.4 percentage points to 3.2%.

The average duration of unemployment was 9.4 months; 28.9% of unemployed people had been looking for a job for one year or more, KSH notes.

According to the administrative data of the National Employment Service (https://nfsz.munka.hu/), the total number of registered jobseekers increased by 19.6% to 299,000 at the end of January 2021.

KSH changed its methodology in line with international regulations regarding calculating unemployment on January 1.

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