Hungary Jobless Rate Falls To 5.5% In March-May

  • 29 Jun 2016 9:00 AM
Hungary Jobless Rate Falls To 5.5% In March-May
The average unemployment rate among 15- to 74-year-olds in Hungary fell to 5.5% in March-May, the Central Statistical Office (KSH) said. The rate was down from 5.8% in February-April and 7.1% in the same period a year earlier. The jobless rate was the same for those aged 15-64 in March-May.

KSH noted that the unemployment rate for career-starters between the ages of 15 and 24 stood at 13.8%, dropping 4.0 percentage points in a year. The rate for Hungarians aged 25-54 was 5.0%, down 1.3 percentage points, and the rate for 55- to 64-year olds fell 2.0 percentage points to 4.3%.

There were 250,700 unemployed in the 15-74 age group in March-May. Their number fell 69,900 in one year. The number of employed stood at 4,313,800, rising 148,700 year-on-year. Of those employed in the 15-74 age group, 118,200 worked abroad. The number was up 8,400 -- within the margin of error -- in twelve months.

There were 224,300 fostered workers among the employed, up 24,800 yearon- year. The number of people employed on the Hungarian labour market rose 115,600 to 3,971,300 during the period.

The average time spent looking for work was 18.2 months in March-May. About 47.5% of the unemployed had been seeking a job for one year or more.

There were 2,942,800 economically inactive Hungarians -- those neither employed nor seeking work -- during the period, down 112,500 from a year earlier. At the same time, the activity rate rose to 60.8% from 59.5%.

Republished with permission of Hungary Matters, MTI’s daily newsletter.

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