Hungary's unemployment rate decreased to an all-time low of 3.3 percent in April-June 2019 from 3.6 percent in the corresponding period of the previous year, as the number of unemployed fell by 4.9 thousand to 155.5 thousand while employment rose 10.5 thousand to 4.510,9 million. At the same time, the labour force participation rate rose by 0.5 percent from the previous year to 62.9 percent in the second quarter of 2019 and employment rate went up 0.6 percent to 60.8 percent. Unemployment Rate in Hungary averaged 7.29 percent from 1999 until 2019, 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.
Unemployment Rate in Hungary is expected to be 3.40 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 3.50 in 12 months time. In the long-term, the Hungary Unemployment Rate is projected to trend around 3.40 percent in 2020, according to our econometric models.