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29th March, 2018

Jobless rate remains at record low

The unemployment rate in December-February remained at the all-time low first seen in November-January, Central Statistics Office data published on Wednesday show.

The unemployment rate fell sharply on the year in December-February as employment increased dynamically over the same period. The number of unemployed dropped to 177,700, down from 202,500 a year earlier, bringing the unemployment rate down to 3.8% from 4.4%.

The combined rate of those unemployed and working in budget-funded schemes was 7.4% in December-February, down from 8.9% a year earlier, Portfolio said based on its own calculations.

The number of those in employment was 4,441,100 in December-February, up by 70,000 from a year earlier. That was mostly the result of jobs opening in the private sector since the number of those employed in budget-funded schemes fell by 40,000.

Out of the total, 4,182,000 worked in the private sector, 164,900 in the public sector and 94,100 were Hungarian workers posted abroad. The number of those posted abroad fell by 20,000 to 94,100. It is unclear whether the decline was due to their returning home or the number fell because they have terminated their Hungarian address, Portfolio noted.

The number of male unemployed fell to 87,000 from 111,000 and their unemployment rate decreased to 3% from 4.5%. The female unemployment rate remained at 4.3%. The average length of unemployment decreased to 14.9 months. Among the unemployed, 38% had no job for over a year. (ksh.hu; ksh.hu; napi.hu; portfolio.hu)

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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