According to the latest, seasonally adjusted data compiled by Eurostat, in March 2015, the unemployment rate averaged 11,3 percent within the eurozone (19 member states), 9.8 percent within the EU (28 member states), while it was only 7.4 percent in Hungary.

Eurostat statistics show that unemployment in Hungary fell by 0.5 percentage points, from 7.9 percent in March 2014 to 7.4 percent in March 2015. These figures place Hungary ahead of Sweden (7.9 percent), Belgium (8.5 percent), Finland (9.0 percent) or France (10.2 percent). Over the past one year, the level of unemployment even rose in five member states.

The Hungarian youth unemployment rate of 19.2 percent is also more favourable than the EU average (20.9 percent), while Eurostat data put the youth unemployment rate at 50.1 percent in Greece and Spain, 45.5 percent in Croatia and 43.1 percent in Italy.

Earlier, Hungary had been among the EU’s tail-enders regarding employment, but this negative trend has been reversed. It is especially positive that the largest factor behind the improvement has been the expansion of the private sector.

Minister of State for Vocational Training and the Labour Market Sándor Czomba told public television channel M1 that in light of the data, an unemployment rate below 7 percent has become realistic for this year.

“In case it is a good year for the agricultural sector, we may see an unemployment rate below 7 percent in mid-year or around the end of the year. I believe the trend is positive; there is of course still a lot to do,” he added.

(Ministry for National Economy)