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Hungary unemployment rate 10.3% in July-September

Hungary's average unemployment rate was 10.3% in July-September, after 9.9% in June-August, the Central Statistics Office (KSH) said on Thursday.

The average unemployment rate was 7.7% in July-September a year earlier.

After slightly lower rates in the previous three-month periods, the jobless rate returned in June-August to its peak reached in February-April this year, and went further up to a more than 13 years record in July-September. Analysts expected 10.1% from July-September.

In July-September the unemployment rate for the 15-64 age group was 10.4%, up from 10.0% in June-August and 7.8% a year earlier.

The harmonized unemployment rate calculated according to the Eurostat methodology was 9.5% for Hungary in August - up from 7.8% in August last year -, 9.5% for the EU-15 and 8.9% for the EU-27 in August, KSH said.

The average number of unemployed was 436.200 in the 15-74 age group in July-September, up from 418,800 in June-August and from 327,700 a year ago.

The number of employed in the 15-74 age group fell to 3,783,500 from 3,800,200 in the previous three-month period, and was also down from 3,924,300 a year ago.

The participation or activity rate was 54.9% for the 15-74-year age group, similar to that in June-August but down from 55,2% in July-September last year. It was 61.9% for the 15-64 age group in July-September, up 0.1% point from June-August but slightly down from 62.1% a year ago.

Of all unemployed, 19.8% were from the 15-24 age group, a fall of 0.6% points in one year. However, unemployment rate in this age group grew to 27.7% during one year from 20.8%..

42.3% of the unemployed was seeking a job for one year or more in July-September, and the average length of unemployment was 16.4 months, down from 18.8 months a year ago. (MTI-ECONEWS)