Economy minister Mihaly Varga expects the unemployment rate to fall below 5 percent.
The employment rate in Hungary has never been as favourable as it is now since 1989-1990 and the Fidesz-KNDP government targets full employment, Minister of National Economy, Mihaly Varga told a news conference, commenting on the latest data by the Central Statistical Office (KSH). Since 2010 633.000 jobs have been added to the labour market, 402.000 of it in the private sector. The unemployment rate has declined from 11.6 percent to 5.1 percent over that period.
While the EU's average unemployment rate is 8.5 percent, Hungary has the fifth lowest rate with its 5.1 percent. The jobless rate in Hungary is expected to drop to below 5 percent in the next few months, he added.
