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Jobless Total Highest In Hungary Since 1996 |
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 "The unemployment rate rose to 10.4% in August-October, the highest level in 13 years, the Central Statistics Office reported yesterday. The rate for July-September was 10.3%, compared to 7.7% a year earlier.There were 439,000 registered unemployed in Hungary during the period, a rise of 121,000 year-on-year.
The last time unemployment neared these levels was the first quarter of 1996, at 10.6%. The number of employed in the 15-74 age group grew slightly to 3.788 million from 3.783 million in the previous three-month period, but was down from 3.916 million a year earlier.
Unemployment among those aged 15-24 rose from 20.4% to 27.7% in the August-October period. The average unemployment period overall was 16.3 months, compared with 18.7 months in the same period a year earlier.
Companies could freeze wages, taking lower income tax rates for employees into account, or may continue dismissing staff if production does not pick up, MKB Bank economist Zsolt Kondrát said." Source: Hungary Around the Clock. This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
27.11.2009
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