Hungary's unemployment rate dropped to 3.4 percent in May-July 2019 from 3.8 percent in the corresponding period of the previous year while employment rose by 33.9 thousand to 4.518 million. Among genders, the jobless rate was lower for men (3.2 percent from 3.4 percent) than for women (3.6 percent from 4.1 percent). The number of unemployed went down by 16.2 thousand to 156.9 thousand. The youth unemployment rate (15-24 age group) fell to 2.9 percent from 3.4 percent a year earlier. Meantime, the labour force participation rate increased slightly to 63.0 percent from 62.6 percent a year ago and the employment rate rose to 60.9 percent from 60.3 percent. Unemployment Rate in Hungary averaged 7.26 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.

Hungary Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-06-27 07:00 AM Unemployment Rate May 3.4% 3.5% 3.6%
2019-07-29 07:00 AM Unemployment Rate Jun 3.3% 3.4% 3.4%
2019-08-28 07:00 AM Unemployment Rate Jul 3.4% 3.3% 3.4%
2019-09-27 07:00 AM Unemployment Rate Aug 3.4% 3.4% 3.3%
2019-10-29 08:00 AM Unemployment Rate Sep 3.4% 3.4%
2019-11-27 08:00 AM Unemployment Rate Oct 3.4%


Hungary Labour Last Previous Highest Lowest Unit
Unemployment Rate 3.40 3.40 11.80 3.30 percent [+]
Employed Persons 4517492.00 4517906.00 4517906.00 3678730.00 [+]
Unemployed Persons 156935.00 157889.00 506520.00 155488.00 [+]
Long Term Unemployment Rate 1.20 1.30 5.70 1.20 percent [+]
Youth Unemployment Rate 9.90 11.20 29.50 9.50 percent [+]
Labour Costs 130.70 133.40 133.40 31.30 Index Points [+]
Job Vacancies 79684.00 80024.00 87665.00 21130.00 [+]
Wages 362595.00 364799.00 371131.00 60268.00 HUF/Month [+]
Wage Growth 10.70 10.60 26.19 -5.30 percent [+]
Minimum Wages 464.20 418.47 464.20 89.15 EUR/Month [+]
Population 9.78 9.80 10.71 9.21 Million [+]
Retirement Age Women 64.00 63.50 64.00 59.00 [+]
Retirement Age Men 64.00 63.50 64.00 60.00 [+]
Labor Force Participation Rate 62.99 62.99 62.99 53.84 percent [+]
Living Wage Family 221500.00 212300.00 221500.00 202500.00 HUF/Month [+]
Living Wage Individual 144800.00 135900.00 144800.00 127200.00 HUF/Month [+]
Productivity 109.40 100.10 121.70 59.70 Index Points [+]
Part Time Employment 196.00 189.70 265.20 111.90 Thousand [+]
Wages High Skilled 281600.00 246400.00 281600.00 218900.00 HUF/Month [+]
Wages Low Skilled 140400.00 120700.00 140400.00 109400.00 HUF/Month [+]
Employment Change 1.00 0.70 2.70 -1.40 percent [+]
Employment Rate 60.87 60.86 60.87 47.98 percent [+]
Full Time Employment 4234.00 4226.70 4234.00 3150.50 Thousand [+]


Hungary Unemployment Rate

In Hungary, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force. 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 - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.40 3.40 11.80 3.30 1999 - 2019 percent Monthly




Country Last Previous
South Africa 29.00 Jun/19
Spain 14.02 Jun/19
Turkey 13.90 Jul/19
Brazil 11.80 Aug/19
Argentina 10.60 Jun/19
Italy 9.50 Aug/19
France 8.50 Jun/19
Euro Area 7.40 Aug/19
India 6.00 Dec/18
Saudi Arabia 5.60 Jun/19
Canada 5.50 Sep/19
Australia 5.20 Sep/19
Indonesia 5.01 Mar/19
Russia 4.50 Sep/19
United Kingdom 3.90 Aug/19
Mexico 3.70 Aug/19
China 3.61 Jun/19
Netherlands 3.50 Sep/19
United States 3.50 Sep/19
South Korea 3.40 Sep/19
Germany 3.10 Aug/19
Japan 2.20 Aug/19
Singapore 2.20 Jun/19
Switzerland 2.10 Sep/19


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