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• Hungary’s Unemployment Rate At 3.3% In Q4 2019

Hungary’s Unemployment Rate At 3.3% In Q4 2019

• 31 Jan 2020 10:05 AM
• Budapest Business Journal

The average unemployment rate in the last quarter of 2019 stood at 3.3%, with the average number of unemployed people amounting to 155,000, according to data by the Central Statistical Office (KSH).

In the last quarter of 2019, unemployment among 15–74-year-old men fell to about 82,000 and the unemployment rate to 3.2%. The number of unemployed women amounted to approximately 74,000, with the unemployment rate standing at 3.5%

Among people aged 15–24, the number of unemployed increased to 40,000 and their unemployment rate by 2.1 percentage points to 12.2%. More than a quarter of the unemployed belonged to this age group, according to KSH. The unemployment rate of the 25–54 age group decreased to 2.9%, and that of people aged 55–74 decreased to 1.7%.

The average duration of unemployment was 10.6 months; 30.4% of unemployed people had been searching for a job for one year or more.

The unemployment rate of people aged 15–74 decreased in Pest Region, Western Transdanubia, Northern Hungary and the Northern Great Plain, while remaining unchanged in the other regions. The highest unemployment rate was registered in the Northern Great Plain region (5.7%), with Western Transdanubia reporting the lowest rate (1.6%).

According to the administrative data of the National Employment Service, the number of registered jobseekers fell to 235,000 at the end of December 2019, a year-on-year decrease of 2.9%.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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