Hungary jobless rate stands at 3.5% in February
Hungaryʼs three-month rolling average jobless rate reached 3.5% in February, up 0.1 percentage point from the previous month but down 0.1 percentage point from 12 months earlier, Hungarian news agency MTI says, citing data by the Central Statistical Office (KSH).
The rate covers unemployment among those between the ages of 15 and 74.
In absolute terms, there were 163,700 unemployed, 3,400 more than in the previous month and down 4,500 from a year earlier.
The unemployment rate in the 15-24 age group was down at 10.9% from a year earlier. The unemployed in this age group account for more than one-fifth of all jobless, KSH noted.
The unemployment rate in the 25-54 age group was practically unchanged at 3.1pc, and the rate in the 55-74 age group was 2.2%.
Out-of-work Hungarians spent about 10.7 months on average looking for employment during the period, and 30.8% of the unemployed had been seeking work for one year or longer.
The number of employed stood at 4,489,600 among 15- to 74-year-olds, 7,800 less than in the same period a year earlier. The employment rate was 60.6%, level with a year earlier.
The number of employed included 105,200 Hungarians in fostered work programs and 115,600 working abroad. The number of those employed on the domestic primary labor market rose 0.2% from a year earlier to 4,268,800, while the number of fostered workers dropped 16.2%. The number of those working abroad was up 4.9%.
KSH defines "employed" in line with International Labor Organization standards as anybody who worked one or more hours a week or was temporarily absent from their job during the survey week. The data also include those employed in public work schemes and those working abroad for less than one year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.