Unemployment in Hungary

Hungary Unemployment | Economic News & Forecasts

Hungary - Unemployment

The economy likely lost traction in the second quarter following the first quarter’s growth surge. Export growth softened in April–May amid weak economic activity in the Euro area, retail sales slowed and consumer confidence fell in May. While consumers’ expectations improved in June, they deteriorated again in July: The see-saw pattern, thus, indicates cautiousness in household spending appetites. Moreover, business sentiment slid throughout Q2 and into July, hitting a 31-month low. On 12 July, parliament approved the 2020 budget, which seeks to reduce the budget deficit-to-GDP ratio to 1.0% through tax cuts, while maintaining sizeable reserves. Meanwhile, tensions with the EU are at fever pitch. On 25 July, the EU took Hungary to the European Court of Justice against the country’s asylum laws, while the government warned against any attempts to condition EU development funding on rule-of-law standards.

Hungary - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate10.1  7.7  6.8  5.1  4.2  

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Hungary Unemployment Chart

Hungary Unemployment
Note: Unemployment in % of active population.
Source: Hungarian Central Statistical Office (KSH).

Hungary Facts

Bond Yield2.350.0 %Jul 31
Exchange Rate294.4-0.68 %Jul 31
Stock Market40,7680.04 %Jul 31

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