Hungary's Sept jobless rate edges down to 10.7%, employment up 0.4pps.

By bne IntelliNews November 2, 2011
Hungarys jobless rate continued to decrease, while employment improved in September, with the number of employed Hungarians in the 15-74 age group increasing by 0.9% y/y to 3.856mn, the statistics office said. The jobless rate dropped for the fourth consecutive month, falling by 0.2pps y/y and 0.1ppt m/m to 10.7%. There were 462,000 unemployed on average during the July-September period and their number remained slightly below the number recorded in the same period a year ago. The participation ratio rose by 0.5pps y/y to 56.3% in September. The higher average number of employed people aged 15-74 corresponded to an employment rate of 50.3%, up by 0.6 pps y/y in September. On a monthly basis, the number of employed persons increased by 19,500, while the number of unemployed slipped down by 800.

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