Unemployment Rate at 4.2% in November
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The unemployment rate in Hungary stood at 4.2% in November, up 0.1% compared to October, according to data published by the Central Statistical Office (KSH).
The number of unemployed persons stood at 207,000 in the penultimate month of 2023.
According to the administrative data of the National Employment Service, the number of registered jobseekers decreased by 3.2% year-on-year, falling to 226,000 by the end of the month.
Sep-Nov Unemployment at 4.3%
KSH notes that in the September–November 2023 period, the number of unemployed persons aged 15–74 increased by 29,000 to 212,000, while their unemployment rate rose by 0.5 percentage points to 4.3%. Among males, the number of unemployed persons was 113,000, and their unemployment rate was up by 0.6 percentage points to 4.3%. Among females, the number of unemployed people was 99 thousand, and their unemployment rate rose by 0.5 percentage points to 4.2%.
The number of unemployed people aged 15–24 years was 43,000, with an unemployment rate of 13.8%. This group accounted for 20.4% of all unemployed. The unemployment rate for 25-54-year-olds rose by 0.3 percentage points to 3.7%, while for 55-74-year-olds it was essentially unchanged at 3.2%.
The average duration of job search was 9 months, and 34.2% of the unemployed had been looking for a job for at least a year.
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