Hungary's unemployment rate rose to 6.9 percent at the end of February, official figures showed Wednesday
Published:
31 March 2005 y., Thursday
Hungary's unemployment rate rose to 6.9 percent at the end of February, official figures showed Wednesday.
The jobless rate rose from 6.6 percent in January and represents more bad news for the unpopular Socialist led government. Although Hungary's jobless rate is low by regional standards the country continues to be plagued by large scale, long-term unemployment.
Long-term unemployment, defined as joblessness lasting for a year or more, represented 44 percent of the total. The average duration of unemployment in Hungary is 16 months.
Hungary also has a very low rate of labor participation as a proportion of the working-age population. The proportion of people of working age who were employed was just 50.2 percent compared with 50.5 percent at the end of February last year.
Šaltinis:
UPI
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Major Japanese automakers plan to expand their operations in Central and Eastern Europe
more »
European Commission forecasts fastest growth for Lithuanian economy in the enlarged EU
more »
The wide variety of public finance performances and uneven prospects for speedy adoption of the euro will prove to be key factors influencing the future of government ratings among the 10 new EU members
more »
Swiss-based electronics group moves its production facilities to Kaunas
more »
EBRD to open $5 mln loan line to Moldova's Moldindconbank to finance small business
more »
Bulgaria's Dr Kristalina Georgieva will take over the helm of World Bank's Moscow Office from May 1
more »
The Czech Republic's current account deficit narrowed to $67 million in February
more »
WARSAW AND UZBEK EXCHANGES SIGN A TREATY OF COOPERATION
more »
Real interest rates mean great returns on the Hungarian forint
more »
The previous week's strong US job report bolstered the dollar against the major currencies over the week
more »