Hungary's unemployment rate rose to 4.1 percent in the three-month period to May of 2020 from 3.4 percent in the corresponding period of last year, reflecting the initial effects of the global pandemic. That was the highest jobless rate since the third quarter of 2017, as the number of unemployed went up by 29.8 thousand to 190.2 thousand. Meantime, employed fell by 97.3 thousand to 4,403.1 thousand. Meantime, the activity rate dropped to 62 percent from 62.8 percent a year earlier and the employment rate also fell to 59.4 percent from 60.7 percent.
Unemployment Rate in Hungary averaged 7.13 percent from 1999 until 2020, reaching an all time high of 11.80 percent in March of 2010 and a record low of 3.30 percent in June of 2019. This page provides the latest reported value for - Hungary Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Hungary Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Hungarian Central Statistical Office
Unemployment Rate in Hungary is expected to be 6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Hungary to stand at 6.70 in 12 months time. In the long-term, the Hungary Unemployment Rate is projected to trend around 5.80 percent in 2021 and 4.90 percent in 2022, according to our econometric models.