Analysts: the labor market has reached full employment

The Hungarian labor market has reached the state of full employment in economic terms in 2017, which is why the unemployment rate may decline only marginally this year – market analysts commented on the employment and unemployment data of last year’s fourth quarter released by the Central Statistical Office (KSH).

According to the KSH, the average number of employees in the fourth quarter last year was 4 million 447 thousand, 36 thousand ie 0.8 percent more than a year before. The employment rate of 15-64 year-olds grew by 1.3 percentage points to 68.8 percent in one year. The average number of the unemployed decreased by 30 thousand to 175 thousand, while the unemployment rate dropped by 0.7 percentage points to 3.8 percent. (MTI)