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Hungary jobless rate drops for first time in one year

Hungary's average unemployment rate was 11.4% in the 15-74 age group in March-May, down from 11.8% in February-April although still up from 9.8% a year earlier, the Central Statistical Office (KSH) said on Tuesday. The moving-average rate dropped for the first time in one year. The number of employed rose for the second time in a row after drops registered since Q2 last year.

The unemployment rate bottomed out at 7.5% in the summer of 2008.

The jobless rate for the 15-64 age group was 11.5% in March-May, down from 11.8% in February-April, in the second drop since Q4 2009.

The number of unemployed in the 15-74 age group dropped by 13,700 from February-April to 483,200 and was up by 73,500 from a year earlier.

The number of employed rose by 25,300 from February-April to 3,756,400 in March-May in the 15-74 age group. The number was down 23,500 in one year. (MTI-Econews)