articleimg-1
Jun 28, 2017

Hungary's jobless rate falls to 4.4 percent

The economy ministry said that 500,000 jobs had been added to the private sector since 2010. The jobless rate among 15-24 year-olds has dropped by an annual 3 percentage points, to 10.8 percent

Hungary’s rolling average three-month jobless rate has fallen to 4.4 percent during March-May, down from 4.6 percent in the previous period, it has been announced.

According to figures released by the Central Statistical Office (KSH), the rate which covers unemployment among 15-74 year-olds was lower than 5.5 percent in the same period a year earlier.

MTI states that in absolute terms, there were 203,100 unemployed in Hungary in March-May, 5,900 less than in February-April and 47,600 less than in the same period a year earlier.

The unemployment rate among 15- 24 year-olds stood at 10.8 percent, 25-54 year-olds dropped by 1.1 percentage points to 3.9 percent and the rate among 55-64 year-olds was unchanged at 4.2 percent.

Péter Cseresnyés, state secretary of the economy ministry in charge of employment, said there were nearly 700,000 more people in jobs than in 2010.

The government sees the youth employment rate as especially encouraging. The proportion of under-25s in employment hardly reached 20 percent in 2010, whereas it has risen to almost 30 percent. The jobless rate in the same age group is now 10.2 percent.

The economy ministry said that 500,000 jobs had been added to the private sector since 2010. The jobless rate among 15-24 year-old has dropped by an annual 3 percentage points, to 10.8 percent, which is a favorable rate in a European comparison.