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Hungary jobless rate falls to 10.9% in July-September

Hungary's average unemployment rate was 10.9% in the 15-74 age group in July-September, down from June-August, although still up 0.6 percentage points from a year earlier, the Central Statistical Office (KSH) said.

The number of unemployed fell after rising in June-August, but dropping in each three-month period since February-April this year. The number of employed rose for the sixth time in a row after drops registered since August-October last year.

The unemployment rate bottomed out at 7.5% in the summer of 2008 and rose to peak at 11.8% in January-March and February-April this year. The drop slowed in May-July from the two previous three-month periods.

The jobless rate for the 15-64 age group was 10.9% in July-September, also down from June-August, after steady drops from a 11.9% peak reached in Q1 2010.

The number of unemployed in the 15-74 age group fell by 4,600 from June-August to 466,000 and was up by 30,000 from a year earlier.

The number of employed rose by 18,600 from the previous three-month period to 3,823,000 in July-September in the 15-74 age group. The number was up 39,000 in one year.

The employment rate - the percentage of the population aged 15-74 who are employed - rose to 49.7% from 49.5% in the previous three-month period.

Measured in the 15-64 age group, the number of employed rose now for the sixth three-month period, and was up a sharp 18,300 from June-August at 3,790,700 in July-September. The employment rate in this age group was 56.0%, up from 55.7% and rising for the sixth time in a row after peaking at 55.8% in May-July 2009 and dropping to 54.5% in Q1 this year.

The participation or activity rate - the percentage of people actively employed or seeking employment - rose now for the seventh month, to 55.8%, up from 55.6% in the previous three-month period for the 15-74 age group, and to 62.9% from 62.7% for those aged between 15-64 years.

17.4% of the unemployed belong to the 15-24 age group, only present on the labor market to a limited extent, and the unemployment rate for this group was 26.7%, down from 27.3% measured in June-August, and 1 percentage point lower than a year earlier.

The unemployment rate calculated for the most active, 25-54 age group was 10.0% in July-September, down 1 percentage point from June-August, but up 0.7 percentage points from one year earlier.

The measures of long-term unemployed grew further, with 54% of the unemployed seeking a job for one year or longer. The average period of unemployment rose to 18.8 months from 18.6 months in June-August, and was 2.4 months longer than a year earlier. (MTI – Econews)