Country Report Hungary
- ID: 2101527
- February 2016
- Region: Hungary
- 27 Pages
- The Economist Intelligence Unit
The unemployment rate in the 15-74 age group averaged 6.2% in the final quarter of 2015, down from 7.1% a year earlier, as small gains on the regular job market were complemented by an expansion of public works programmes.
According to the Central Statistical Office (KSH), in October-December 2015 the number of unemployed persons fell by 37,800, or almost 12% year on year, to an average of 280,700 -the lowest level since the third quarter of 2004. The average unemployment rate in full-year 2015 was 6.8%, down from 7.7% in 2014.
The decline in unemployment coincided with a 30% year-on-year expansion in the number of participants in the government's public works programme-a partial replacement for earlier unemployment benefit schemes-to an average of 232,300 in the final quarter of 2015. If the number of public works participants were added to the unemployed, the underlying unemployment rate for October-December would rise to 11.3%, slightly up on a year earlier.