Hungary’s jobless rate drops to 4.7% in August-October

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Hungary’s jobless rate dropped by 1.6 percentage points to 4.7% in the August-October period, with similar improvements for both men and women, although men were characterized by a slightly lower level of unemployment than women, the Central Statistical Office (KSH) said today in a first reading of data.

The unemployment rate among men aged 15–74 was down by 1.6 percentage points to 4.6%, while that of women in the same age group fell by 1.7 percentage points to 5.0%, according to data from the KSH. The unemployment rate in the 15–24 age group was down by 3.6 percentage points to 12.6%, while the rate for persons aged 55–64 fell by 1.8 percentage points to 3.9%. 

The average duration of unemployment was 17.8 months; 46.2% of unemployed people had been searching for a job for one year or more, i.e. were long-term unemployed, the KSH added.

At the same time the KSH also published employment data today. In August–October 2016, the number of employed people was 4.2 million, some 138,000 more than a year earlier. The employment rate of people aged 15–64 increased to 67.4%, with similar improvement in the employment indicators of both women and men, the KSH added.

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