Unemployment in Hungary at all-time low as more people work abroad

In March-May 2018, unemployment fell while the employment rate increased, the Central Statistical Office (KSH) said on Thursday. There were 4.457 million people in employment in the period in question, 64,000 more than a year earlier. Unemployment fell to 170,000, down 32,500 from a year earlier.

Meanwhile, the number of those in public work projects stopped decreasing, while the trend of employment abroad has reversed. The number of those working abroad for less than a year rose 11,000 compared to the previous three months to 108,000.

The number of Hungarians employed abroad had been under 100,000 since November 2017, with the numbers falling steadily since last summer, but the trend now reversed within a single months. It should be noted, however, that these figures should be handled with reservations as the sampling error could reach 10,000.

Overall, employment figures indicate that the domestic labour market is healthy, employment is growing, and we can expect to see the favourable trends continue through the coming months.

The 3.7% unemployment rate would translate into total employment, but keep in mind that the figure would be 7% if not for those employed in public works, so there is room for further improvement.

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• public work