The unemployment rate in Hungary increased to 4.4 percent in the three-month period to September of 2020 from 3.5 percent a year earlier, amid the adverse effects of the prolonged pandemic. The number of unemployed went up to 208.3 thousand from 162.5 thousand while the number of employed decreased to 4,485.5 thousand from 4,521 thousand. The average duration of unemployment was 10.8 months and 30.9 percent of unemployed people had been searching for a job for one year or more. source: Hungarian Central Statistical Office
Unemployment Rate in Hungary averaged 7.09 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 November of 2020.
Unemployment Rate in Hungary is expected to be 6.50 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.