Improvement in unemployment rate unlikely before year-end - analysts


Any improvement in Hungary’s unemployment rate is unlikely before year-end, analysts told MTI on Monday, after the Central Statistics Office (KSH) published fresh data.

The average unemployment rate in Hungary was 10.8% in August-October, edging up from 10.7% in July-September, but falling from 10.9% in the same period a year earlier.

Gergely Suppan of TakarekBank said the unemployment rate probably fell year-on-year because of an increase in the rate of economically active Hungarians, lifted by the introduction of stricter terms for taking retirement and more first-time job-seekers.

TakarekBank sees Hungary’s unemployment rate reaching 11.2% by year-end. It puts the average unemployment rate at 11% in 2011 and 10.7% in 2012.

CIB Bank’s Gyorgy Barta said the increase in the number of employed Hungarians was a positive sign, but noted the figure was still under pre-crisis levels. He said the unemployment rate was likely to be 10.8% at year-end, but added that he did not augur an improvement for 2012.


K&H Bank Fined for Irregularities Banking

K&H Bank Fined for Irregularities

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

New CEO at the Helm of DDC From January Appointments

New CEO at the Helm of DDC From January

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.