Jobless rate at 7.2 % in March-May
Thursday, June 23, 2005, 09:09
The number of Hungarians seeking employment was 7.2 % in March-May, unchanged from February-April, Central Statistics Office (KSH) reported. The data is sharply higher than the same period a year earlier, when the jobless rate was 5.8%. As more and more school leavers and graduates enter a tight
labour market and at the same time people are laid off amid cutbacks particularly in the public sector, the unemployment rate, calculated in line with the standards of International Labour Organization (ILO), has risen to its highest level since the start of 2003. Unemployment in 2004 was 6.1%. Meanwhile, the number of actively employed -- 3.886 million out of a population of just over 10 million -- is low compared to the average of the European Union-15.