The unemployment rate in Hungary dropped to 3.6 percent in the three-month period to November 2018 from 3.8 percent in the same period of the previous year. The number of unemployed decreased by 9 thousand from a year earlier to 169 thousand and employment rose by 44 thousand to 4.494 million. The 55-74 age group registered the lowest jobless rate (2.5 percent), followed by the 25-54 age group (3.2 percent) and the 15-24 age group (10.2 percent). Unemployment Rate in Hungary averaged 7.40 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.