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Jobless rate hits 10.5% in Hungary

Updated:2010-01-07 14:26:04

Hungary's unemployment rate continued to climb in September-November 2009, to peak at a record-breaking 10.5 percent, a 0.1 percent higher than the 10.4 percent of August-October, the Central Statistics Office reported on Wednesday.

In actual numbers, 5,500 more people were out of work in the September-November period than in August-October. It also meant that 55.1 percent of the population aged 15-74 had work. The overall number of jobless people was 445,000 out of a population of ten million, which means that 115,000 more people were unemployed now than a year ago.

The jobless rate for the 15-24-year-olds was 27.7 percent, 7.3 percent higher than a year ago. For the 24-54-year-olds, considered the most employable age group, unemployment was 9.6 percent, 2.6 percent higher than last year.

Additionally, 43.3 percent of the people without work have been looking for jobs for a year or more. The average time spent between jobs was 16.4 months.

Market analysts predicted that the unemployment rate would continue to rise and is likely to peak at around 11 percent in thefirst or second quarter of this year.




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