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Unemployment rate rises to 7.3% in May-July

The average number of unemployed was 311,100 in May-July 2006, resulting in an unemployment rate of 7.3%, the Central Statistics Office (KSH) reported on Tuesday.

The unemployment rate was up from 7.2% in the previous three-month period and from 7.1% in May-July 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 7.1%, below the respective EU average of 7.8% and in line with the EU-15's rate of 7.1%.
The number of employed averaged 3,933,800 in May-July 2006, down 100 from the previous three-month period and up 24,600 from a year earlier. The number of unemployed in the period rose 5,400 from April-June 2006 and rose 12,400 from the same period a year earlier.
In May-July, 19.7% of the unemployed were between 15 and 24 years of age. The unemployment rate in this age group was 18.5% in the period, down 0.8 percentage points from the same period a year earlier.
Long-term unemployment fell 0.7 percentage points from April-June with 48.1% of all unemployed searching for work for one year or longer in the period. The average time spent out of work rose to 17 months from 16.8 months in April-June. The participation or activity rate of the population between 15 and 74 years of age was 55% in May-July, up 0.1 percentage points from the previous three months, and up from 54.5% from May-July 2005.