The unemployment rate in Hungary decreased to 3.7 percent in the three month to October 2018 from 4 percent in the same period of the previous year. The number of unemployed went down by 10.6 thousand from the previous year to 172.9 thousand and employment rose by 57 thousand to 4.502 million. The 15-24 age group registered the highest jobless rate (10.5 percent), followed by the 25-54 age group (3.3 percent) and the 55-74 age group (2.5 percent). Among genders, the jobless rate was lower for men (3.3 percent from 3.5 percent) than for women (4.1 percent from 4.6 percent). Meanwhile, the employment rate increased to 60.6 percent from 59.7 percent and the activity rate went up to 62.9 percent from 62.1 percent. Unemployment Rate in Hungary averaged 7.42 percent from 1999 until 2018, 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 4.20 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 4.50 in 12 months time. In the long-term, the Hungary Unemployment Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.