The unemployment rate in Hungary increased to 4.3 percent in the February-April 2021 period from 3.7 percent in the corresponding period of last year. The average number of unemployed increased by 32 thousand to 206 thousand, mostly driven by higher youth unemployment, which accounted for one fifth of the unemployed population. Meanwhile, employment shrank by 9 thousand to 4.575 million, mainly due to declining employment among people working abroad but belonging to households in Hungary. The average duration of unemployment was 7.9 months and 27.3 percent of unemployed people had been looking for a job for one year or more. source: Hungarian Central Statistical Office
Unemployment Rate in Hungary averaged 7.02 percent from 1999 until 2021, 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 June of 2021.
Unemployment Rate in Hungary is expected to be 6.20 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 5.40 in 12 months time. In the long-term, the Hungary Unemployment Rate is projected to trend around 4.90 percent in 2022 and 4.10 percent in 2023, according to our econometric models.