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Jan 31, 2019

Hungary's employment rate increases by 15 percent since 2010

Mihály Varga noted that the employment rate had risen from 54.6 percent to 69.5 percent since 2010, and the Hungarian government is determined to see further improvements

Hungary's employment rate has increase by 14.9 percent since 2010, it has been revealed.

According to Mihály Varga, the employment rate had risen from 54.6 percent to 69.5 percent since 2010, and the Hungarian government is determined to see further improvements.

Official figures show that Hungary’s rolling average three-month jobless rate was at 3.6 percent in October-December, unchanged from the previous three-month period and down from 3.8 percent a year earlier.

According to the Central Statistical Office (KSH), the rate covers unemployment among those between the ages of 15 and 74. In absolute terms, there were 167,200 unemployed, 1,500 fewer than in the previous period and 8,000 fewer than a year earlier.

MTI highlights that the unemployment rate in the 15-24 age group was almost unchanged at 10.1 percent. The unemployed in this age group account for more than one-fifth of all jobless.

The figures also show that the unemployment rate in the 25-54 age group was down at 3.2 percent, and the rate in the 55-74 age group was almost unchanged at 2.6 percent.

Commenting on the data, the finance minister noted that a record 4,481,000 people had held a job in October-December in Hungary’s economic sector since the democratic transition.

Meanwhile, the jobless number has dropped from about half a million to 167,000, or from 11.5 percent to 3.6 percent, he added.