Hungary jobless rate drops, more people finding entry into labour market from fostered jobs schemes

Budapest, November 29 (MTI) – Hungary’s rolling average three-month jobless rate reached 4.7 percent in August-October, dropping from 4.9 percent in the previous month and 6.4 percent in the same period a year earlier, the Central Statistical Office (KSH) said on Tuesday.

The rate covers unemployment among those between the ages of 15 and 74.

In absolute terms, there were 219,300 unemployed in Hungary in August-October, 7,200 fewer than in July-September and 70,800 fewer than a year earlier.

Péter Cseresnyés, economy ministry state secretary for the labour affairs, told public television that the jobless rate was now at its lowest point since the 1990 change in political system and far lower than the European average of around 8 percent. He added that among European Union member states, only Germany, the Czech Republic and Malta were doing better in terms of unemployment indicators.

Taking 20-64 year-olds, the employment rate is now above the EU average, and it is 73-74 percent for men, he said. The youth employment rate has also risen considerably. Whereas before 2010 this measure had stood at below 20 percent, it is now 30 percent, and the jobless rate in for young people has fallen to 12.6 percent, he added.