Hungary unemployment rate reaches new peak of 10.4pc

After slightly lower rates in the previous three-month periods, the jobless rate returned in June-August to its peak reached in February-April this year, and went further up to a new more than 13 years record in August-October. In August-October the unemployment rate for the 15-64 age group was 10.5pc, up from 10.4pc in July-September and 10.0pc in June-August, and 7.8pc a year earlier. The harmonized unemployment rate calculated according to the Eurostat methodology was 9.7pc in September, up from 9.6pc in August and 7.8pc in September last year, 9.7pc for the EU-16 and 9.2pc for the EU-27 in September. The average number of unemployed was 439,500 in the 15-74 age group in August-October, up from 436.200 in July-September and from 418,800 in June-August, and from 327,900 in August-October a year ago. The number of employed in the 15-74 age group grew to 3,788,900 from 3,783,500 in the previous three-month period, but was down from 3,916,000 a year ago. The participation or activity rate was 55,0pc for the 15-74-year age group, after 54.9pc in July-September, and slightly down from 55,1pc in August-October last year. It was 62.0pc for the 15-64 age group after 61.9pc in July-September, and the same as a year ago. Of all unemployed, 19.7pc were from the 15-24 age group in August-October. Unemployment rate in this age group grew to 27.7pc during one year from 20.4pc. Of all the unemployed, 43,1pc was seeking a job for one year or more in August-October, and the average length of unemployment was 16.3months, down from 18.7months a year ago.


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