Unemployment rate in Hungary drops

31 Jul 2019

The latest research showed that the unemployment rate in Hungary declined.

The Central Statistical Office (KSH) highlighted a significant drop in unemployment in Hungary, going down to a rate of 3.3% between April and June. The research carried out focused on individuals aged between 15 and 64 and marked a 0.2% decline YoY. Despite being of a small change, the number of unemployed women has decreased, whilst the number of unemployed men remained unchanged. 

Hungary’s ministry of finance stated, ‘The unemployment rate in Hungary has never been so low, it fell to a record low of 3.3 percent, meaning that Hungary's unemployment rate is the fourth lowest in the whole European Union, at the same level with Malta.’ It added, ‘The objective of the Hungarian government is to push the unemployment rate under three percent, and to try to help those seeking jobs find them.’ 

The KSH showed how the labour market’s structure hints that the decline will soon stop. It conveyed that the number of workers belonging in the primary labour market went up but is much illustrated that the difference was much bigger in previous years. 

There are around 155,000 individuals who are still listed as unemployed and 36% of them have been looking for a job for over a year.