Hungary: Official Unemployment Rate Below 10%

Business › Economy ♦ Published: September 27, 2013; 20:15 ♦ (Vindobona)

Hungary´s statistical office KSH has published the newest labor market data today. The real labor market conditions in Hungary are expected to be substantially worse.

Hungary: Official Unemployment Rate Below 10% / Picture: © Vindobona.org

KSH today reported that unemployment came at 9.9% in September. This about 0.5 percentage points below the level of 2012, KSH noted. The employment quota was up 2.1 percentage points to 65.3%, KSH states.

According to local reporters, the official unemployment quota does not reflect the economic reality. In the private sector, about 75,000 jobs were cut in the last 12 months,…

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