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Jobless rate 4.1 percent in October

Hungary's jobless rate stood at 4.1 percent in October, up from 3.9 percent in September and 3.7 percent twelve months earlier, 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 202,500 unemployed in October, 11,300 more than in September and 21,600 more than twelve months earlier.

The rolling three-month average jobless rate stood at 4.3 percent in October, up from 4.1 percent in September and 3.6 percent twelve months earlier.

In October 2023, the average number of employed persons aged 15-74 increased by 37,000 to 4,757,000 compared with the same period of the previous year.

In the August-October period, the number of employed persons was 4,745,000. While the number of workers in the domestic primary labour market increased by 26,000 and the number of workers abroad by 12,000, the number of public employees decreased by 8,000.

Commenting on the figures, Sandor Czomba, the state secretary for employment policy, said Hungary’s work-based society was “strong and resilient”, and policies had protected jobs and even boosted the number of the employed in a difficult economic situation caused by war and sanctions.

“October produced another record, with the employment rate of 15-64 year-olds reaching an unprecedented high of 78.4 percent,” he said, adding that the government had successfully activated reserves in the domestic labour market.

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