Unemployment stops rising in Hungary

Hungary’s unemployment rate was 4.4 percent in March, down from 4.6 percent in February, the Central Statistical Office (KSH) said on Friday.

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

In absolute terms, there were 217,200 unemployed in March, 9,700 fewer than in February and 22,200 more than twelve months earlier.

The rolling three-month average jobless rate stood at 4.6 percent in March, down from 4.7 percent in February.

Meanwhile, the employment rate for the 15-74 age group was 65.1 percent in March, up from 64.7 percent in Feb. In absolute terms, there were 4,745,800 people employed in March, 22,700 more than in February and 38,300 more than twelve months earlier.

The number of economically active people in the age group stood at 4,962,900, giving Hungary an activity rate of 68 percent, up from 67 percent twelve months earlier.

Commenting on the data, the state secretary for employment policy said Hungary’s work-based society had “solidified”, and the government had successfully protected families and jobs. One million more people were working today than before 2010, Sándor Czomba said.

According to the March data, the number of jobholders and jobseekers have both grown, meaning that an increasing number of inactive people are returning to the job market, he said. Meanwhile, the growth in unemployment numbers is expected to be temporary, he said.

Workforce mobilisation is in line with the government’s goals, as it helps satisfy workforce demand, he said.

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