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Nov 29, 2016

Hungary's unemployment rate continues to drop

The unemployment rate among men aged 15–74 was down by 1.6 points to 4.6 percent, while that of women in the same age group fell by 1.7 points to 5.0 percent

Hungary’s jobless rate dropped by 1.6 points to 4.7 percent in the August-October period, with similar improvements for both men and women, although men were characterized by a slightly lower level of unemployment than women, the Central Statistical Office (KSH) said today.

According to the Budapest Business Journal, and based on data from the KSH, the unemployment rate among men aged 15–74 was down by 1.6 points to 4.6 percent, while that of women in the same age group fell by 1.7 points to 5.0 percent.

The unemployment rate in the 15–24 age group was down by 3.6 points to 12.6 percent, while the rate for persons aged 55–64 fell by 1.8 points to 3.9 percent. 

The average duration of unemployment was 17.8 months. 46.2 percent of unemployed people have been searching for a job for one year or more, the KSH added.

In August–October 2016, the number of employed people was 4.2 million, some 138,000 more than a year earlier. The employment rate of people aged 15–64 increased to 67.4 percent, with similar improvement in the employment indicators of both women and men, the KSH added.