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Hungary unemployment rate 9.1% in December-February

Hungary's average unemployment rate - calculated for the 15- to 74-year-old age group - jumped to 9.1% in the three months between December and February from 8.4% in November-January, the Central Statistical Office (KSH) reported.

The average number of unemployed was 377,700 in the 15-74 age group in the three-month period, up 26,900 from December-January. The number of unemployed rose 40,700 in twelve months.

The average number of employed in the age group was 3,790,000 in December-February, down 48,500 from November-January, and falling 64,800 in a year. The employment rate dropped a further 0.6 percentage point to 49.2%. Only 54.1% of the age group were present on the labor market, the lowest rate since February-April 2008.

The harmonized unemployment rate calculated with Eurostat methodology was 9.0% in January, at the middle of the three-month period, as compared to 8.0% in the EU-27 and 8.3% in the EU-15.

Because of the big jump in the number of unemployed, the average time spent jobless dropped to 17.4 months from 18.1months in November-January. Still, 45% of the unemployed were jobless for more than twelve months. (MTI – Econews)