"Hungary's rate of unemployment ticked up to 7.5% year on year in the September-November period in 2007 from 7.3% in the third quarter, the Central Statistics Office (KSH) has reported on Monday.The KSH said the number of unemployed was 316,000 and the number of employed totalled 3,922,400 in the period examined. The latter figure compares with 3.940 m in Aug-Oct and 3.959 m in the same period of 2006. The number of unemployed rose by 5,200 from the previous 3-m period and was down by 5,000 from the reading in the same period of 2006.
According to data provided by Eurostat, the statistics agency of the European Union, the harmonised jobless rate was 6.7% in the EU-15 and 6.8% in the EU-27 in October.
The labour market activity of the population aged 15-74 was 54.9% in Sept-Nov, down from 55.1% in the previous three-month period and down by 0.5ppt from the same period last year. The employment rate of the population aged 15-64 was 57.3% in the period examined, down 0.3ppt from Aug-Oct and 0.4ppt in Sept-Nov 2006.
The jobless rate for the 15-24 year old, representing 18.8% of all unemployed, was 18.5%, up 1.6 percentage points from the same period last year. The KSH said 45.8% of all unemployed have been seeking jobs for a year or more (vs. 45.6% in the previous 3 months).
The average duration of joblessness came to 16.7 months, up from 16.5 months in the previous 3-m period. "
Source: Portfolio Online Financial Journal
07.01.2008