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Unemployment rate drops to 7.2% in Q2

The average number of unemployed was 305,700 in April-June 2006, resulting in an unemployment rate of 7.2%, the Central Statistics Office (KSH) reported on Thursday.

The unemployment rate slipped from 7.3% in the previous three-month period but was up from 7.1% in April-June 2005. KSH calculates the jobless rate in line with ILO standards.
Hungary's harmonized unemployment rate in May, the middle of the three-month period, was 7.2%, below the respective EU average of 8% and the EU-15's rate of 7.3%. The number of employed averaged 3.933,900 in April-June 2006, up 6,000 from the previous three months period and up 42,400 from a year earlier. The number of unemployed in the period fell 3,700 from March-May 2006 but rose 6,200 from the same period a year earlier.
In April-June, 18.3% of the unemployed were between 15 and 24 years of age. The unemployment rate in this age group was 17.3% in the period, down 2 percentage points from the same period a year earlier. Long-term unemployment rose 1.4 percentage points from March-May with 48.8% of all unemployed searching for work for one year or longer in the period. The average time spent out of work rose to 17.4 months from 16.8 months in March-May.
The participation or activity rate of the population between 15 and 74 years of age was 54.9% in April-June, unchanged from the previous three months, and up from 54.3% from April-June 2005.