Hungary’s unemployment rate fell to 3.6 percent in the first quarter of 2019 from 3.9 percent in the same period of the previous year, as the number of unemployed declined by 12.2 thousand to 12.2 thousand while employment increased by 62.9 thousand to 4.50 million. Meanwhile, labour force participation rate advanced to 62.8 percent from 62 percent a year earlier. Unemployment Rate in Hungary averaged 7.34 percent from 1999 until 2019, reaching an all time high of 11.80 percent in March of 2010 and a record low of 3.60 percent in June of 2018.
Unemployment Rate in Hungary is expected to be 3.60 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.