Unemployment in Hungary

Hungary Unemployment | Economic News & Forecasts

Hungary - Unemployment

The economy seemingly emerged from recession in Q3 after the severe blow dealt by lockdown measures at home and abroad in Q2. Both industrial production and merchandise exports contracted at a notably softer pace in July-August compared to Q2, which, together with higher business sentiment, points to improving private sector activity. Moreover, stronger retail sales and less downbeat consumer sentiment in Q3 hint at recovering household spending. Turning to Q4, available indicators paint a mixed picture of the economy: Although business sentiment rose further in October, consumers turned more pessimistic in the same month, likely due to the sustained rise in new Covid-19 cases. Meanwhile, in late October, the Council of the European Union approved a EUR 504 million loan for Hungary as part of the EU's SURE program to protect jobs and sustain incomes amid the pandemic.

Hungary - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate6.8  5.1  4.2  3.7  3.4  

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Hungary Unemployment Chart

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

Hungary Facts

Value Change Date
Bond Yield2.080.0 %Dec 31
Exchange Rate295.1-0.68 %Jan 01

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