Hungary's unemployment rate edged down to 3.5 percent in the three-month period to April 2019 from 3.8 percent in the same period of the previous year. It is the lowest jobless rate since the series began in 1999. The number of unemployed fell by 14.6 thousand from a year earlier to 162 thousand and employment rose by 47 thousand to 4492 million. Also, the activity rate went up to 62.7 percent from 62.1 percent. By genders, the jobless rate decreased for women (3.5 percent vs 4.3 percent in Feb-April 2018) while it rose for men (3.5 percent vs 3.4 percent). The 15-24 age group registered the highest jobless rate (10.8 percent), followed by the 25-54 age group (3.1 percent) and the 55-74 age group (2.2 percent). Unemployment Rate in Hungary averaged 7.32 percent from 1999 until 2019, reaching an all time high of 11.80 percent in March of 2010 and a record low of 3.50 percent in April of 2019.
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.